TFSA Contribution Limit for 2026: How Much Can You Save?
Автор: One Planet Channel
Загружено: 2025-12-02
Просмотров: 18
Описание:
The TFSA program is a great way for Canadians to save tax-free. In this video, we'll dive into the 2026 TFSA contribution limit and what it means for your financial goals. Learn how to maximize your savings and understand the penalties for over-contributing. We'll also cover how to find your personalized contribution room and provide tips on opening a TFSA account. Get ready to boost your savings and make the most of your TFSA in 2026!
Key points:
TFSA contribution limit for 2026 is $7,000, unchanged from 2025
Contribution room accumulates yearly, starting from age 18
Excess contributions result in a 1% monthly tax penalty
Find your personalized contribution room on MyCRA
Contact your financial institution to open a TFSA
Deadline to contribute for 2025 tax year is December 31st
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