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