TFSA 2026: The Trap Immigrants Fall Into

Описание: Are you a newcomer or a new immigrant in Canada for 2026? 🇨🇦

Don't miss out on one of the best ways to grow your money tax-free! In this 12-minute guide, we explain everything you need to know about the Tax-Free Savings Account (TFSA) and why the new $7,000 contribution limit for 2026 is a game-changer for immigrants and newcomers.

In this video, we cover:

✅ How TFSA works for new residents and international students in Canada.

✅ The new $7,000 annual limit and how the contribution room accumulates.

✅ Why you don't need a job or earned income to open a TFSA.

✅ How to avoid the 1% CRA penalty for over-contribution.

✅ Step-by-step guide to starting your investment journey in 2026.

Whether you are here on a work permit, study permit, or as a Permanent Resident (PR), understanding your TFSA room is crucial for your financial success in Canada.

📌 Video Chapters (Timestamps)
0:00 - Introduction to TFSA for Newcomers
1:30 - What is a TFSA? (Tax-Free Benefits Explained)
4:00 - The New $7,000 Limit for 2026
6:30 - Eligibility: When does an immigrant's room start?
8:15 - How to Deposit and Withdraw (The Rules)
9:45 - Warning: Avoiding the 1% CRA Over-contribution Penalty
11:15 - Final Checklist & How to Open an Account

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DISCLAIMER:
The information provided in this video is for educational and informational purposes only and should not be considered as professional financial, investment, or tax advice. Every individual's financial situation is unique. Rules regarding TFSA and CRA taxes can change frequently. Before making any major financial decisions, we strongly recommend consulting with a Certified Financial Planner (CFP) or a qualified tax professional in Canada. Pension & money Talk is not responsible for any financial losses or decisions made based on the content of this video.
Are you ready to grow your money tax-free in Canada? This video dives deep into the Tax-Free Savings Account (TFSA), explaining everything newcomers and seasoned investors need to know. We cover the new $7,000 TFSA contribution limit for 2026 and detail how to leverage the tfsa benefits for your financial future. Learn how does tfsa work and why it's a must-have for tax free investing canada, especially for tfsa for beginners.
Today, we're diving into the Tax-Free Savings Account (TFSA), a powerful tool for building wealth in Canada. We explain the 2026 contribution limit of $7,000, which offers tax free growth and withdrawals, making it a key component of your personal finance strategy. This video is essential for anyone interested in investing and smart financial planning, especially when considering their retirement goals.