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Friday, 1 January 2016

2016 TFSA Limit = $5,500

The CRA has announced that the annual TFSA contribution limit for 2016 will be $5,500. This makes the total possible contribution room since introduction a sizeable $46,500. 
"Under proposed legislation, starting January 1, 2016, the annual TFSA dollar limit for 2016 will decrease from $10,000 to $5,500.00. The TFSA annual room limit will be indexed to inflation and rounded to the nearest $500."

*As usual, don't just take my word on something when it comes to your money. Check out the CRA site at the links below.
http://www.cra-arc.gc.ca/tx/rgstrd/papspapar-fefespfer/lmts-eng.html
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/tfsa-celi/cntrbtn-eng.html




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