Back in 2009 when the Tax Free Savings Accounts were first introduced, the annual contribution limit was $5,000.  We were promised that this would increase gradually to keep up with inflation.  For 2013 the first increase takes effect, to the tune of $500.  So effective next year, you will be allowed to contribute $5,500 per year.

Want to learn more about the TFSA?  Start here.

Filed under: Personal Tax by David Boese No Comments »