Tax Free Savings Account 2019 Limit
The new year brings with it a new Tax Free Savings Account (TFSA) contribution limit. In 2019 you can contribute up to $6,000.
If you’ve never contributed to a TFSA and have been eligible to do so since 2009 the total contribution is $63,500.
To be eligible to contribute you must be 18 years old, have a valid social insurance number and be a resident of Canada – for tax purposes.
Getting ready to do your taxes
It’s tax time again. You should have started to receive your T4 slip – employment income, T4RSP – RRSP income and T5 slips – investment income and other slips. Get out a shoe box, file folder, large envelope or folder on you computer and label it tax slips 2018. This way you will keep them all together for when you’re ready to file your taxes.
Click on TaxSlipPrep for a list of all the items you may need for completing your taxes.
