TFSAs- Tips And Traps

Although a relatively new financial product, tax-free savings accounts are well-utilized and have become a mainstay in many financial plans. The annual contribution room is indexed to inflation (rounded to the nearest $500) and the additional 2018 room is $5,500. This means that anyone who was eighteen in 2009 and has been a Canadian resident for the last ten years could have made total TFSA contributions of $57,500 as of 2018. A couple could have a combined total of $115,000. As is...