The Tax Free Savings Account, TFSA, was introduced in 2009. The current contribution limit for both 2009 and 2010 is $5,000. If you don’t use it, you don’t lose it i.e. the limits are cumulative. Therefore, if you are age 18 or over in 2009, you now have $10,000 of TFSA room. The question becomes, what’s the best strategy to use going forward? Should you put money in an RRSP or a TFSA or both? Continue reading »
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04Feb
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