$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.
March 2, 2020 is the last day to contribute to an RRSP and receive an income deduction for the 2019 tax year.
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!
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.
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.
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