TFSA Timeline Update
The Canada Revenue Agency has announced that Canadians can contribute $10,000 to a TFSA right away — without waiting for the budget to pass. See the announcement.
Doing so is likely safe based on the established tradition of taxpayers acting as if budget proposals announced by a majority government will pass into law. Even if the budget is not passed into law before the upcoming fall election and even if the election results in a change in government, past parliamentary practice suggests that any new government would be morally obliged to respect the budget announcement and that any return to the old limit would not apply to contributions made on the basis of the budget announcement.
- No more new 1% income-splitting loans
- One percent loans are back
- COVID-19 Status
- Proposed Disability Tax Credit Fee Limits
- Folk’n Fiddle Festival 2019
- Charitable Giving: Ebenezer Scrooge in a Taxable Canadian Context
- Budget Season is Upon Us
- Top Ten Tax Boutique Once Again
- Just under 90% of Goal Reached
- Almost Halfway to the $50,000 Goal for ACT – Autism Community Training!