Canada Revenue Agency clarifies timeline of new TFSA limit - GIC Wealth Management

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For Your Information Canada Revenue Agency clarifies timeline of new TFSA limit

Canada Revenue Agency clarifies timeline of new TFSA limit

The Canada Revenue Agency has issued a formal statement confirming that Canadians can immediately contribute to the new limit for tax-free savings accounts, a move that comes three days after the measure was announced in Tuesday’s budget…The Conservative government’s 2015 budget announced that the maximum annual contribution would be increased from $5,500 to $10,000, but Canadians have been asking financial institutions and Members of Parliament to clear up when they can start making the extra contributions.

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