save-retirement

TFSAs are much more valuable today than they were when they were introduced, says MoneySense magazine.

Since the government boosted the annual TFSA contribution limit from $5,500 to $10,000 this year, it adds, “Any adult over [the age of] 24 has now accumulated $41,000 of TFSA contribution room. Couples can enjoy $82,000 of tax-free bliss, with another $20,000 accumulating every year.”

Read more about how TFSAs can benefit clients.

Also check out:

Election 2015: The parties on taxes

TFSAs help single-income families

Do clients understand TFSAs? 5 things to ask

Half of Canadians foggy on what can go in a TFSA

TFSA designations may cause estate problems

Originally published on Advisor.ca

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