Tax Free Savings Accounts – TFSA – $5,000 Additional Room
TFSAs are in their in their fourth year. This means that as of January 1st, 2012, you can invest an additional $5,000 in your TFSA.
TFSA contribution room accumulates every year, if at any time in the calendar year you are 18 years of age or older and a resident of Canada.
You do not have to set up a TFSA or file a tax return to earn contribution room. This brings the limit to $20,000 per indivudual who was age 18 or older in 2009.
If you have questions or comments please email me at firstname.lastname@example.org or click this link to go to the CRA website.
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