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Some clients may be better off contributing to a TFSA, but their contribution room will depend on when they turned 18

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The insurance industry group has recommended changes for the federal budget

Almost a quarter of survey respondents think TFSAs will reduce their taxable income

  • By: IE Staff
  • January 27, 2020 January 27, 2020
  • 11:31
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A report suggests the feds could make TFSAs even more useful

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A report recommends changes to improve TFSAs for retirement savers and retirees

Two-thirds of Canadians currently hold a Tax-Free Savings Account

Average unused TFSA contribution room in 2017 was $30,947

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Canadians are advised to keep track of their TFSA withdrawals and contributions themselves

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Contribution room accumulates beginning in the year in which a person turns 18

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In general, there are three potential outcomes when a TFSA accountholder dies, depending on the preparations made

  • By: Leah Golob
  • November 1, 2019 November 6, 2019
  • 00:14