TFSA Contribution Room

Tax Free

As the new year rolls in, we Canadian can be thankful for being rewarded with one of the best things that exists for investors – The Tax Free Savings Account (TFSA). The type of account started in 2009 where savers/investors were allowed to contribute up to $5,000 per calendar year (and is now up to $5500 starting 2013). This article lists some of the basics of TFSA and I share a spreadsheet to calculate your TFSA contribution room.

TFSA Basics

The Tax Free Savings Account is not just a savings account, but should be viewed more as a Tax Free Investing Account. Your funds can grow tax free and can provide with great long term prospects. Most people are familiar with TFSA accounts, but for the benefit for new savers/investors, here’s a recap.

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