| Year | Maximum Contribution |
|---|---|
| 2020 | $6,000 |
| 2019 | $6,000 |
| 2018 | $5,500 |
| 2017 | $5,500 |
| 2016 | $5,500 |
| 2015 | $10,000 |
| 2014 | $5,500 |
| 2013 | $5,500 |
| 2012 | $5,000 |
| 2011 | $5,000 |
| 2010 | $5,000 |
| 2009 | $5,000 |
| Total | $69,500 |
A Tax-Free Savings Account (TFSA) is a registered investment or savings account that allows for tax free gains. The amount of money that can be contributed to a TFSA is limited each year. A TFSA can be used for any savings goal and withdrawals can be made free of tax. … TFSA Contribution Limit by Year, From 2009-2020. as per the table shown here.
Many Canadians have a lot of misconception and miss information as we see that no one is education the average Canadians about it. How much one can contribute, when can be invested and how you do the withdrawal, what impact does it have and can one reinvest the same money back into a TFSA and when. To know this and more please contact us 416-283 8899