Understanding Tax-Free Savings Account (TFSA)
Billah and Associates
MARCH 25, 2024
Since 2009, federal government, through TFSAs allow individuals to contribute a set amount each year to the account, up to a lifetime maximum. For 2024, the lifetime TFSA contribution limit is $95,000 for eligible Canadians who have been over 18 years old and residents of Canada since 2009. What is Tax-Free Savings Account (TFSA)?
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