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$6000 can be added to Tax-Free Savings Accounts (TFSA) for 2020. If you were born in 1991 or earlier you can have up to $69,500 of contribution room. Always verify your contribution room before adding additional amounts to be sure you’re not over-contributing.
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March 2, 2020 is the last day to contribute to an RRSP and receive an income deduction for the 2019 tax year.
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Barry Sinclair will be retiring at the end 2019. We wish Barry all the best in retirement and we’ll miss having him as part of the Starview Team!
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Good news the TFSA contribution room got an inflation bump from $5500 to $6000 for 2019. You may also have unused contribution room from previous years. Contact us to see how a TFSA fits in your financial plan.
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March 1, 2019 is the last day to contribute to an RRSP and receive a deduction for your 2018 taxes. Contact us to discuss how to get an RRSP working for you.
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Canadians are learning more about TFSAs but many still don’t know/understand what investments are eligible for TFSAs. TFSAs can hold more than just cash. BMO Annual TFSA Report