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2019 TFSA Contribution Room

September 1, 2019 by Samuel R. Hester 

TFSA contribtion room was increased to $6,000 for the 2019 tax year. You may recontribute any amounts you take out of your TFSA but only in the calendar year after the withdrawal. Overcontributions will incur a proposed TFSA Return with taxes assessed. Your CPA can help you request a review of the situation and possible reassessment.