TFSA limit increases for 2019

The Canadian government has announced that the annual contribution limit for TFSAs will be raised to $6,000 for 2019, an increase from this year’s limit of $5,500.

This post was written by the former Estonian Credit Union, now Northern Birch Credit Union.

With the TFSA limit at $6,000 for 2019, the total room available in 2019 for someone who has never contributed to a TFSA and who was 18 years or older in 2009, the year in which the program was launched, will be a total of $63,500.

Historic TFSA yearly limits:

2009 – 2012 = $5,000
2013 – 2014 = $5,500
2015 = $10,000
2016 – 2018 = $5,500
2019 = $6,000

Make your 2019 deposit today into our Early Bird TFSA and earn 4% interest until December 31st, 2018. Click here to learn more.

The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering of tax, legal, accounting or professional advice.

Author: NorthernBirchCU

A co-operative financial institution based out of Toronto, Ontario.

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