TFSA contribution room calculator Jul 2nd

TSX getting you down? There are always sound investment alternatives.

Latest News

How to use FHSA and RRSP withdrawals for a home down payment in Canada + MORE Feb 11th

Ask MoneySense My partner and I plan to buy a $600,000 home in two to three years with a 20% down payment. Can we each use $40,000 from our FHSAs and $60,000 from our RRSPs through the Home Buyers’ Plan, even though we would only need $120,000 for the down payment? We would use the additional $80,.... More »

More Canadians are rethinking their bank. Should you? Jul 22nd

Clinton Begin was growing tired of frequent visits to bank branches and calling into the trading desk to check on various transactions. “There (were) a lot of things that just took too much of my time. I was always phoning, always going to visit them. It was always a big deal,” he recalled. .... More »

The Wealthy Barber says Canadians face more opportunities—for profit and peril Dec 9th

David Chilton was down on his luck. In 1988, the aspiring author decided to cash in his RRSP and self-publish a book about a savvy barber who dispenses financial advice—like not to cash in your RRSP—to curious, wisecracking customers. “The one time I was struggling—badly—in finance was whe.... More »

How often should you check in on your finances? + MORE Jan 3rd

New year, new financial goals. That’s how many of us begin each January, only to see progress falter as the weeks go on. One way to combat that problem is to create regular check-ins for yourself to stay on track. The Canadian Press spoke to experts to help build out a list of financial tasks .... More »

Private equity, private debt and more alternative investments: Should you invest? Sep 10th

You may have heard friends or acquaintances talk about investing in private investments, or maybe your financial advisor has recommended them to you. There are valid reasons for all the talk around private investing of late, but also reasons for caution. Read on to learn more about the asset class a.... More »

TFSA contribution room calculator

– moneysense.ca

Find out your current tax-free savings account (TFSA) contribution limit by using this calculator.

Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like exchange-traded funds (ETFs), guaranteed investment certificates (GICs), bonds, stocks and, yes, plain old cash. While you do have to abide by the set amount of contribution room each year, any growth you earn on those investments will not affect your contribution room for the current year or years to come. Plus, the income earned is tax-free (more on that below). Any resident of Canada who is 18 or older and has a valid social insurance number can open a TFSA.

Featured TFSA Accounts

featured

Best GIC rate

Earn a guaranteed 5.05% tax free when you lock in for 1 year.

go to site

featured

Best online brokerage

Open a TFSA investment account and trade ETFs and stocks with $0 commission on all online stock transactions…

Continue Reading On moneysense.ca »

Not sure what the best Investment returns in Canada are? Be sure to get the best advice possible – Visit our Investment page for details.

Share