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Email this9:25 am
April 6, 2013
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The raw annual new TFSA contribution room amounts calculated with indexation factors from CRA and a December 2016 Financial Post article:
| Year | Indexation | TFSA New Room | ||
| Raw | Rounded | Actual | ||
| 2009 | $5,000.00 | $5,000 | $5,000 | |
| 2010 | 0.6% | $5,030.00 | $5,000 | $5,000 |
| 2011 | 1.4% | $5,100.00 | $5,000 | $5,000 |
| 2012 | 2.8% | $5,243.00 | $5,000 | $5,000 |
| 2013 | 2.0% | $5,348.00 | $5,500 | $5,500 |
| 2014 | 0.9% | $5,396.00 | $5,500 | $5,500 |
| 2015 | 1.7% | $5,488.00 | $5,500 | $10,000 |
| 2016 | 1.3% | $5,559.00 | $5,500 | $5,500 |
| 2017 | 1.4% | $5,637.00 | $5,500 | $5,500 |
| 2018 | 1.5% | $5,722.00 | $5,500 | $5,500 |
| 2019 | 2.2% | $5,848.00 | $6,000 | $6,000 |
| 2020 | 1.9% | $5,959.00 | $6,000 | $6,000 |
| 2021 | 1.0% | $6,019.00 | $6,000 | $6,000 |
| 2022 | 2.4% | $6,163.00 | $6,000 | $6,000 |
11:38 am
January 12, 2019
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.
Thanks for that ⬆ Norman.
Projecting further to Jan. 2023, buy taking a 'Rough' Guess at what the Average inflation rate might end up being for All of 2022 (~ 6.5% ?), I don't see the TFSA limit going any higher than $6,500 for next year.
Sorry, I don't have a crystal ball ... that's just a Guesstimate.
Others may differ. Anyone else care to try ? 
- Dean
" Live Long, Healthy ... And Prosper! "
12:02 pm
April 6, 2013
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CPI for October 2020 to September 2021 is 140.0.
CPI so far, from October 2021 to May 2022, is 146.9.
Those would take the raw new contribution room to
$6,163 * 146.9/140.0 = $6467.
It will depend on how CPI will be from now to September.
Since January, CPI has been advancing at a rate of about 13.7% per annum. That could change significantly if we have supply chain issues like poor harvests this fall and Russian foodstuff embargos continue.
7:15 am
April 6, 2013
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Add 2023 TFSA numbers using latest 6.3% factor from CRA: Indexation adjustment for personal income tax and benefit amounts:
| Year | Indexation | TFSA New Room | ||
| Raw | Rounded | Actual | ||
| 2009 | $5,000.00 | $5,000 | $5,000 | |
| 2010 | 0.6% | $5,030.00 | $5,000 | $5,000 |
| 2011 | 1.4% | $5,100.00 | $5,000 | $5,000 |
| 2012 | 2.8% | $5,243.00 | $5,000 | $5,000 |
| 2013 | 2.0% | $5,348.00 | $5,500 | $5,500 |
| 2014 | 0.9% | $5,396.00 | $5,500 | $5,500 |
| 2015 | 1.7% | $5,488.00 | $5,500 | $10,000 |
| 2016 | 1.3% | $5,559.00 | $5,500 | $5,500 |
| 2017 | 1.4% | $5,637.00 | $5,500 | $5,500 |
| 2018 | 1.5% | $5,722.00 | $5,500 | $5,500 |
| 2019 | 2.2% | $5,848.00 | $6,000 | $6,000 |
| 2020 | 1.9% | $5,959.00 | $6,000 | $6,000 |
| 2021 | 1.0% | $6,019.00 | $6,000 | $6,000 |
| 2022 | 2.4% | $6,163.00 | $6,000 | $6,000 |
| 2023 | 6.3% | $6,551.00 | $6,500 | $6,500 |
10:50 pm
April 6, 2013
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Add 2024 TFSA numbers using latest 4.7% indexation factor from CRA: Indexation adjustment for personal income tax and benefit amounts:
| Year | Indexation | TFSA New Room | ||
| Raw | Rounded | Actual | ||
| 2009 | $5,000.00 | $5,000 | $5,000 | |
| 2010 | 0.6% | $5,030.00 | $5,000 | $5,000 |
| 2011 | 1.4% | $5,100.00 | $5,000 | $5,000 |
| 2012 | 2.8% | $5,243.00 | $5,000 | $5,000 |
| 2013 | 2.0% | $5,348.00 | $5,500 | $5,500 |
| 2014 | 0.9% | $5,396.00 | $5,500 | $5,500 |
| 2015 | 1.7% | $5,488.00 | $5,500 | $10,000 |
| 2016 | 1.3% | $5,559.00 | $5,500 | $5,500 |
| 2017 | 1.4% | $5,637.00 | $5,500 | $5,500 |
| 2018 | 1.5% | $5,722.00 | $5,500 | $5,500 |
| 2019 | 2.2% | $5,848.00 | $6,000 | $6,000 |
| 2020 | 1.9% | $5,959.00 | $6,000 | $6,000 |
| 2021 | 1.0% | $6,019.00 | $6,000 | $6,000 |
| 2022 | 2.4% | $6,163.00 | $6,000 | $6,000 |
| 2023 | 6.3% | $6,551.00 | $6,500 | $6,500 |
| 2024 | 4.7% | $6,859.00 | $7,000 | $7,000 |
11:31 pm
September 29, 2017
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Thanks for the update Norman.
Based on these numbers, there would need to be a minimum 5.7% indexation for 2025 for the limit to be raised to $7500 in 2025.
4:46 pm
December 12, 2009
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smayer97 said
Thanks for the update Norman.Based on these numbers, there would need to be a minimum 5.7% indexation for 2025 for the limit to be raised to $7500 in 2025.
Or a change on government to the Conservatives. I suspect it's quite likely the Conservatives will include in their campaign promises to restore the $10,000 annual TFSA contribution limit, which wouldn't be as costly when it was still $5,000 per year under the Liberals, as it's been boosted to $7,000 thanks to indexation.
Cheers,
Doug
8:48 pm
April 6, 2013
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Add 2025 TFSA numbers using latest 2.7% indexation factor from CRA: Indexation adjustment for personal income tax and benefit amounts:
| Year | Indexation | TFSA New Room | ||
| Raw | Rounded | Actual | ||
| 2009 | $5,000.00 | $5,000 | $5,000 | |
| 2010 | 0.6% | $5,030.00 | $5,000 | $5,000 |
| 2011 | 1.4% | $5,100.00 | $5,000 | $5,000 |
| 2012 | 2.8% | $5,243.00 | $5,000 | $5,000 |
| 2013 | 2.0% | $5,348.00 | $5,500 | $5,500 |
| 2014 | 0.9% | $5,396.00 | $5,500 | $5,500 |
| 2015 | 1.7% | $5,488.00 | $5,500 | $10,000 |
| 2016 | 1.3% | $5,559.00 | $5,500 | $5,500 |
| 2017 | 1.4% | $5,637.00 | $5,500 | $5,500 |
| 2018 | 1.5% | $5,722.00 | $5,500 | $5,500 |
| 2019 | 2.2% | $5,848.00 | $6,000 | $6,000 |
| 2020 | 1.9% | $5,959.00 | $6,000 | $6,000 |
| 2021 | 1.0% | $6,019.00 | $6,000 | $6,000 |
| 2022 | 2.4% | $6,163.00 | $6,000 | $6,000 |
| 2023 | 6.3% | $6,551.00 | $6,500 | $6,500 |
| 2024 | 4.7% | $6,859.00 | $7,000 | $7,000 |
| 2025 | 2.7% | $7,044.00 | $7,000 | $7,000 |
9:54 am
April 6, 2013
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Add 2026 TFSA numbers using latest 2% indexation factor from CRA: Indexation adjustment for personal income tax and benefit amounts:
| Year | Indexation | TFSA New Room | ||
| Raw | Rounded | Actual | ||
| 2009 | $5,000.00 | $5,000 | $5,000 | |
| 2010 | 0.6% | $5,030.00 | $5,000 | $5,000 |
| 2011 | 1.4% | $5,100.00 | $5,000 | $5,000 |
| 2012 | 2.8% | $5,243.00 | $5,000 | $5,000 |
| 2013 | 2.0% | $5,348.00 | $5,500 | $5,500 |
| 2014 | 0.9% | $5,396.00 | $5,500 | $5,500 |
| 2015 | 1.7% | $5,488.00 | $5,500 | $10,000 |
| 2016 | 1.3% | $5,559.00 | $5,500 | $5,500 |
| 2017 | 1.4% | $5,637.00 | $5,500 | $5,500 |
| 2018 | 1.5% | $5,722.00 | $5,500 | $5,500 |
| 2019 | 2.2% | $5,848.00 | $6,000 | $6,000 |
| 2020 | 1.9% | $5,959.00 | $6,000 | $6,000 |
| 2021 | 1.0% | $6,019.00 | $6,000 | $6,000 |
| 2022 | 2.4% | $6,163.00 | $6,000 | $6,000 |
| 2023 | 6.3% | $6,551.00 | $6,500 | $6,500 |
| 2024 | 4.7% | $6,859.00 | $7,000 | $7,000 |
| 2025 | 2.7% | $7,044.00 | $7,000 | $7,000 |
| 2026 | 2.0% | $7,185.00 | $7,000 | $7,000 |
11:53 pm
February 7, 2019
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A 2026 2% CRA Index (Inflation Oct 2025 - Sep 2026) will get us $7500 in 2027.
Staying steady at 2% 2026-2029 gets us $8000 by 2030, 2029 if 3%, 2028 if 4%.
| CGO |
10:40 am
April 6, 2013
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Repost using proper name for the new room each year:
| Year | Indexation | TFSA Dollar Limit | ||
| Raw | Rounded | Actual | ||
| 2009 | $5,000.00 | $5,000 | $5,000 | |
| 2010 | 0.6% | $5,030.00 | $5,000 | $5,000 |
| 2011 | 1.4% | $5,100.00 | $5,000 | $5,000 |
| 2012 | 2.8% | $5,243.00 | $5,000 | $5,000 |
| 2013 | 2.0% | $5,348.00 | $5,500 | $5,500 |
| 2014 | 0.9% | $5,396.00 | $5,500 | $5,500 |
| 2015 | 1.7% | $5,488.00 | $5,500 | $10,000 |
| 2016 | 1.3% | $5,559.00 | $5,500 | $5,500 |
| 2017 | 1.4% | $5,637.00 | $5,500 | $5,500 |
| 2018 | 1.5% | $5,722.00 | $5,500 | $5,500 |
| 2019 | 2.2% | $5,848.00 | $6,000 | $6,000 |
| 2020 | 1.9% | $5,959.00 | $6,000 | $6,000 |
| 2021 | 1.0% | $6,019.00 | $6,000 | $6,000 |
| 2022 | 2.4% | $6,163.00 | $6,000 | $6,000 |
| 2023 | 6.3% | $6,551.00 | $6,500 | $6,500 |
| 2024 | 4.7% | $6,859.00 | $7,000 | $7,000 |
| 2025 | 2.7% | $7,044.00 | $7,000 | $7,000 |
| 2026 | 2.0% | $7,185.00 | $7,000 | $7,000 |
207.01 (1) The following definitions and the definitions in subsections 146(1) (other than the definition benefit), 146.1(1), 146.2(1), 146.3(1), 146.4(1) and 146.6(1) apply in this Part and Part XLIX of the Income Tax Regulations.
…
TFSA dollar limit for a calendar year means,
(a) for 2009 to 2012, $5,000;
(b) for 2013 and 2014, $5,500;
(c) for 2015, $10,000; and
(d) for each year after 2015, the amount (rounded to the nearest multiple of $500, or if that amount is equidistant from two such consecutive multiples, to the higher multiple) that is equal to $5,000 adjusted for each year after 2009 in the manner set out in section 117.1. (plafond CÉLI)
…
11:00 am
September 11, 2013
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So we need just .95% indexation factor for next period to get to $7500 for 2027.
12:19 pm
September 29, 2017
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Actually, only $65.01 to $66 (depending on how they choose to round), or just under 0.92%.
3:25 pm
September 11, 2013
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Actually index factor appears to be done in tenths of decimals so it'll take 1.0% as .9% won't do it. Either way it looks pretty likely, based on all the noise I'm hearing about prices going up inexorably.
4:21 pm
April 6, 2013
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The adjustment factors are in increments of 0.1% according 117.1(1) (b)(ii).
0.9% adjustment factor could be enough. Amounts are rounded to the nearest whole dollar by subsection 117.1 (3):
$7,185.00 * (1 + 0.009) = $7,249.665 ⇨ $7,250.00 raw amount
Rounding
117.1 (3) Where an amount referred to in this section, when adjusted as provided in this section, is not a multiple of one dollar, it shall be rounded to the nearest multiple of one dollar or, where it is equidistant from two such consecutive multiples, to the higher thereof.
