Tuesday, 8 December 2015
Keep the annual TFSA contribution limit at $10,000 per year. That's the goal of the online petition on the official Parliament of Canada website. The Liberal government has announced the intention to reduce it back to where it was before the previous Conservative government increased the limit earlier this year. There is no good reason to do that. For those in lower income groups the TFSA is a better retirement savings vehicle than the RRSP and the TFSA is a simpler more flexible tax-free savings account in general. I don't see the government proposing to reduce RRSP contribution limits. I encourage readers to sign the petition like I already have done because it's the sensible thing to do to protect the TFSA (as I have previously written in dissecting the type of wrong-headed arguments criticizing the TFSA that misled the Liberals into proposing the contribution cutback).
Posted by CanadianInvestor at 23:01
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