What’s the TFSA limit? Here’s the maximum you can contribute for 2017 Jan 9th

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What’s the TFSA limit? Here’s the maximum you can contribute for 2017The TFSA limit determines how much you can deposit in your Tax-Free Savings Account each year.
The TFSA limit for 2017:

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YearTFSA Annual LimitTFSA Cumulative Limit

2009$5,000$5,000
2010$5,000$10,000
2011$5,000$15,000
2012$5,000$20,000
2013$5,500$25,500
2014$5,500$31,000
2015$10,000$41,000
2016$5,500$46,500
2017$5,500$52,000

More about the annual TFSA limit:
(Martin Poole/Getty)
Tax-Free Savings Accounts (TFSAs) were first introduced in Canada in 2009. Most Canadian financial institutions now offer them. A TFSA allows any Canadian over the age of 18 to save or invest money in a tax-free account. “Tax free” means that you don’t pay taxes on the money you make inside your TFSA…

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