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Email this2:58 pm
May 28, 2013
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CRA has announced the TFSA maximum contribution for 2025 as $7000. This matches the amount for 2024. The new total is then $102,000.
7:13 pm
April 21, 2022
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I thought the amount for 2024 was $6500?
7:36 pm
May 28, 2013
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2024 was $7000. 2023 was $6500.
8:21 pm
April 21, 2022
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Good to know, seems I under contributed.
3:16 am
November 18, 2017
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JohnnyCash: no worries. Just verify the amount of contribution room you have left and then stuff it in!
RetirEd
9:13 am
January 12, 2019
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.
TFSAs . . . Best Invention since Sliced Bread ! 
- Dean
" Live Long, Healthy ... And Prosper! "
9:21 am
November 16, 2019
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Still way too low!
UK for instance has $35,000 (£20,000) limit for the ISA (Individual Savings Account).
9:48 am
April 27, 2017
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Bob said
Still way too low!
UK for instance has $35,000 (£20,000) limit for the ISA (Individual Savings Account).
That’s for Cash ISAs which have to stay in cash. TFSA can be used for investments. UK’s limit for stocks and shares ISAs is lower than ours.
11:47 am
September 29, 2017
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Still nowhere near as good as Roth-IRA's, the US "equivalent", which allows investing in most everything, including options, Forex, and even running a business within it.
12:41 pm
January 12, 2019
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.
Roth IRAs vs TFSAs ... there are some similarities and of course some differences.
This is how a Roth IRA works . . .
.
Dean
" Live Long, Healthy ... And Prosper! "
6:01 pm
April 6, 2013
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JohnnyCash said
I thought the amount for 2024 was $6500?
The annual TFSA dollar limits and their calculation were covered in this previous thread.
1:59 am
April 21, 2022
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Yeah, I was just being forgetful. I had indeed contributed $7000 earlier this year, at the same time made a contribution for 2023 of $6500 in order to catch up.
1:37 pm
September 11, 2013
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Bob, I don't know about UK but in Canada gov't has to be careful about annual TFSA limit.
If it's too high the envious people will complain about it being a place for rich people to shelter their investment income.
If it's too low people will complain it's of no use.
3:18 pm
April 6, 2013
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Bill said
Bob, I don't know about UK but in Canada gov't has to be careful about annual TFSA limit.If it's too high the envious people will complain about it being a place for rich people to shelter their investment income.
…
That what the UK ISA ends up being: A place that favours the rich. The less well off will never be able to catch up to someone who can contribute the full £20,000 each year.
The £20,000 UK ISA annual allowance doesn't carry forward like the TFSA annual dollar limit does. If one can't contribute £20,000 one year, the unused allowance evapourates at the end of the tax year.
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