What are the TFSA limits and how much can I contribute to my TFSA? TFSA limits explained.

Every year, the Canadian Government accounts the TFSA limits. The TFSA limit for 2019 is $6,000. However, your individual limit can change depending on the contributions and withdrawals you have made on your TFSA.

In addition, your TFSA limit may be impacted by your age if you were under 18 in 2009 when TFSAs first began.

This video gives basic examples of how your TFSA limit is calculated. Examples include scenarios of how TFSA deposits, withdrawals and your age impact your individual TFSA limit.

In this video we will tackle common questions such as: What will the TFSA limit be for 2019? How much can I contribute to a TFSA if I have never contributed? and What is the lifetime limit for TFSA?

Topics Include:
What is my TFSA limit?
Examples of how your TFSA limit is calculated
What happens when you make deposits or withdrawal in your TFSA?
What happens if you over contributing to your TFSA?

#tfsa #tfsawithdrawals #tfsalimits



Useful Links:

TFSA Contributions, TFSA withdrawals and TFSA transfers:
https://www.canada.ca/en/revenueagen...

Replacing / Redepositing TFSA Withdrawals:
https://www.canada.ca/en/revenueagen...

Transferring your TFSA from one bank to another:
https://www.canada.ca/en/revenueagen...





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