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of age and have reached the age of majority in the province where you set up the account, you could contribute at least $7,000 up to $95,000, if you opened a TFSA in 2024. As a newcomer to Canada, your contribution room starts accruing the year you become a resident of Canada. ...
Yes. The Canada Revenue Agency automatically receives an annual TFSA record on your behalf from the bank or credit union that issues your tax-free savings account. Do you have to claim TFSAs on your income tax return? No. You typically don’t need to claim anything TFSA-related on your ...