Canada Revenue Agency: 1 Huge TFSA Mistake to Avoid in 2021!

Author: External Author | | Categories: Accountant , Business Consulting , Financial Statements , Tax Returns

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The Tax-Free Savings Account (TFSA) has been a life-changing introduction by the Canadian government. Available since 2009, the cumulative contribution room in the tax-advantaged account has grown to $75,500 with the 2021 TFSA update.

The TFSA has grown increasingly popular among Canadians in recent years. If you can use it properly, the TFSA can be a powerful wealth-building tool that can help you retire far wealthier in the long run. However, many Canadians are making a critical TFSA mistake that is resulting in them failing to make the most of this investment vehicle.

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Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Adam Othman 

Original Article Posted on:   January 11, 2021

Link to Original Article:  https://www.fool.ca/2021/01/11/canada-revenue-agency-1-huge-tfsa-mistake-to-avoid-in-2021/



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