Your Money Matters

December 2012 Issue


Tax Free Savings Accounts go up to $5,500 a year!

As of January 1st, 2013 each Canadian over 18 will be able to contribute an extra $500 into their Tax Free Savings Accounts.

When the government first created TFSA’s, they said they would index the contribution limit to inflation in $500 increments. This coming January marks the first increase to that contribution limit.

The government says about 8.2 million Canadians have opened a tax-free account.*

It says that 2.5 million Canadians contributed the maximum $5,000 amount last year.*

Get in touch with us now, by email or by phone, to book your appointment for January!

We would like to wish everyone a very Merry Christmas and Happy New Year! Stay safe over the holidays!

*Statistics taken from article in Investment Executive


Theresa Wever and the Money Concepts Team

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