Our top financial term of the year is TFSA.
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Second-runner-up financial term of 2015
Runner-up financial term of the year
What a see-saw ride it’s been this year for the TFSA. First, the Conservatives almost doubled the limit in their federal budget. Pandemonium ensued: When can we add the extra funds? Do we have to wait until the legislation passes? CRA gave you the go-ahead before the law was passed, clients topped up and life was good.
But the euphoria would be short-lived: Trudeau made it a central part of his platform to roll the Conservatives’ new limit back, and won a convincing majority. The people hath spoken! If you were hoping this would be one of those times a politician broke a promise, you’re outta luck: on December 7 the government announced the limit was being cut to $5,500, effective January 1, 2016.
TFSA back to $5,500 as of Jan. 1. Here’s what to do
The Liberals have won. Should you worry about the TFSA?
One advisor’s open letter to Justin Trudeau
Readers react to Justin Trudeau letter
TFSAs help single-income families
Who will benefit from Liberal tax policies?
What to expect if the Liberals win