2023 TFSA Room is $6,500
Because of inflation - CRA has increased the room for TFSA to $6,500 for 2023.
TFSA is a really great tool for your retirement.
We did a short calculation, if you are 30 years old and contribute maximum TFSA each year and the TFSA earns 4% a year, you could potentially get up to $2,000/month tax-free distribution when you are 65.
Talk to us for your retirement tax planning!