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What is the 2014 limit?

  • $5000

    Votes: 0 0.0%
  • $5500

    Votes: 26 100.0%

What will the 2014 TFSA limit be? Anyone from CRA here?

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tfsa 2014
16K views 53 replies 25 participants last post by  andrewf 
#1 ·
CRA's website has still not been updated and is not clear about the 2014 TFSA limit:

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/tfsa-celi/cntrbtn-eng.html

"The TFSA contribution room is made up of:
•your TFSA dollar limit ($5,000 per year plus indexation, if applicable)"


I know it was $5500 in 2013 and $5000 in 2012 but I believe official inflation is "lower" this year.

And logging in to my web account does not help because I usually max out on Jan 2 every year and I do not want to wait until they update their database 3-4 months from now to find out for sure.

Does anyone know for sure (please do not speculate) what the TFSA limit for 2014 will be?
 
#16 ·
Seems like nothing but a break for the more well off I.E for those of us with money to actually use it. Apparently only about 1/3 of Canadians actually have a TFSA..

Anyway - I'm not sure how great it is for the Canadian economy or the federal budget but I'm not complaining(at least not too loudly):).
 
#17 ·
I could see scaling back the TFSA one day - imagine in 15 years having over $100k available in contribution room - I can't see the feds / CRA allowing that much money going completely tax sheltered [would be nice though]. I don't think we will see it completely removed. Given the small % of Canadians who actually contribute to / invest in TFSAs, they are not missing out on a ton of tax revenue. It would be a PR nightmare.
 
#19 ·
#22 ·
Have 36k in my HISA, so our 11k is ready to go for our our 2014 contributions - and will leave 25k in our HISA, the amount needed to waive all transaction fees. Love it when a plan comes together. :biggrin:

Who else is ready to max out their respective TFSA's?
 
#26 ·
Topped up my TFSA today - 2014 contribution - $5500. Now I just need to figure out what to buy. Currently holding a few REITs (REI, NPR, HR, CUF, D), 1 Income Trusts (BPF), and TDB8150. 2 options I've considered - 1) top of a few of the REIT's to ensure I can DRIP a full share and add some to my TDB8150 OR, 2) Find a good growth stock - had intentions on purchasing ACQ a while back but with the run up in this stock I'm concerned what could happen if the market undergoes a 10-15% correction in 2014 or the auto industry starts to stall. My RRSP is reserved for index funds / ETF and I hold CDN dividend payers in my Non-Reg account. WHAT ARE YOU BUYING / CONSIDERING FOR YOUR TFSA's??
 
#27 ·
Topped up my TFSA today - 2014 contribution - $5500. ...... WHAT ARE YOU BUYING / CONSIDERING FOR YOUR TFSA's??
Transferred $5,500 into each of our TFSAs this a.m..........since we consider ours as part our fixed income allotment we'll probably buy 4 year GICs @ 2.42% with Equitable through TDWH tomorrow.
 
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