Some clients may be better off contributing to a TFSA, but their contribution room will depend on when they turned 18
The insurance industry group has recommended changes for the federal budget
Almost a quarter of survey respondents think TFSAs will reduce their taxable income
A report suggests the feds could make TFSAs even more useful
A report recommends changes to improve TFSAs for retirement savers and retirees
Two-thirds of Canadians currently hold a Tax-Free Savings Account
Average unused TFSA contribution room in 2017 was $30,947
Canadians are advised to keep track of their TFSA withdrawals and contributions themselves
Contribution room accumulates beginning in the year in which a person turns 18
In general, there are three potential outcomes when a TFSA accountholder dies, depending on the preparations made