TFSA, RRIF changes: Prepare to review your savings strategy - GIC Wealth Management

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For Your Information TFSA, RRIF changes: Prepare to review your savings strategy

TFSA, RRIF changes: Prepare to review your savings strategy

The budget introduced changes to both tax-free savings accounts (TFSAs) and registered retirement income funds (RRIFs). Specifically, the contribution limit for TFSAs was increased from $5,500 to $10,000 for 2015 and future years (as an aside, this limit is no longer indexed to inflation as it was in the past). It means you’ll be able to set aside more inside a TFSA over time…

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