Will the TFSA limit rise in 2023?
The annual TFSA contribution limit is expected to increase to $6,500 in 2023 from $6,000 in 2022, says Daniel Laverdière, senior director with National Bank Private Banking 1859 in Montreal.
Unless the Canada Revenue Agency’s indexation adjustment for personal income tax and benefit amounts for 2023 is less than 1.4%, Laverdière calculated, the annual TFSA limit should increase by $500. The 2022 indexation increase was 2.4%; 2023’s figure will be released in November 2022.
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Guillaume Poulin-Goyer
Original Article Posted on: December 6, 2021
Link to Original Article: https://www.advisor.ca/tax/tax-news/will-the-tfsa-limit-rise-in-2023/