Canada Revenue Agency: Your TFSA Limit Is $6,000 More in 2021

Author: External Author | | Categories: Business Advice , Financial Advisor , Financial Planner , Investment Services

Blog by Westgroup Financial Management Inc.

The Canada Revenue Agency (CRA) set contribution limits to the Tax-Free Savings Account (TFSA) every year. Thus far, the CRA has made 13 announcements, including the latest on November 20, 2020. For 2021, the annual TFSA contribution limit is $6,000.

Since 2009, many Canadians have been saving tons of money or earning tax-free income via the one-of-a-kind investment account. Building a small fortune for retirement wealth is easy, too, because the contribution room grows.

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Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Christopher Liew, CFA  

Original Article Posted on:  December 11, 2020

Link to Original Article:  https://www.fool.ca/2020/12/11/canada-revenue-agency-your-tfsa-limit-is-6000-more-in-2021/



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