Tax-Free Savings Account (TFSA) holders face a complex situation when they discover they’ve exceeded their contribution limits while simultaneously experiencing investment losses. This scenario ...

TFSAs allow Canadians to earn investment income tax-free, which can significantly accelerate long-term growth. The cumulative contribution room increases annually, and unused room carries forward ...

In June 2025 the CRA again declined to provide relief. The CRA’s written decision indicated that the taxpayer “did not make a reasonable error because it was his responsibility to maintain records, ...

If you are 18 or older, you got $7,000 worth of TFSA contribution room on January 1 of this year. If you turn 18 later in the year, you will get the contribution room on your birthday, when you become ...