A reminder to myself that I still need to top up!
Current TFSA Contribution Limits for the Year:
2009, 2010, 2011 and 2012 was $5,000.
2013 and 2014 was $5,500.
2015 was $10,000
2016 is $5,500
Background notes for TFSA:
The Tax-Free Savings Account (TFSA) program began in 2009. It is a way for individuals who are 18 and older and who have a valid social insurance number to set money aside tax-free throughout their lifetime. Contributions to a TFSA are not deductible for income tax purposes. Any amount contributed as well as any income earned in the account (for example, investment income and capital gains) is generally tax-free, even when it is withdrawn. Administrative or other fees in relation to TFSA and any interest or money borrowed to contribute to a TFSA are not deductible.
Important Links for TFSA:
Checking Contribution Room Information from CRA
Government Information about TFSA
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