TFSAs Celebrate 10 Years with an Increase
On the 10th year of its debut, the annual TFSA contribution has increased to $6,000. At first, setting up a TFSA for $5,000 seemed like a nuance. Today, with a lifetime limit of $63,500 things are more interesting. Had you ritually contributed every year and earned 4% you would have saved over $6,000 in taxes. That’s a great decision that assumed no added risk.
