What’s the TFSA limit? Here’s the maximum you can contribute for 2017

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http://www.msn.com/en-ca/money/savi...can-contribute-for-2017/ar-BBy3KEF?li=AAggFp5

 

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Your TFSA limit if you’ve never contributed before

If you don’t have a TFSA, then you could open one and contribute a maximum of $52,000.

Your TFSA limit if you already have a tax-free savings account

Have you already opened a TFSA and started saving? That’s great. If you’ve never withdrawn money from your account, you can keep adding until you hit the current TFSA limit.

If you have withdrawn money from your TFSA in the past, that’s fine! You will get that room back, but not until the following year.

Your financial provider will likely alert you if you hit your TFSA limit for a single account. But keep in mind that you can open more than one TFSA, with more than one financial institution. Say you deposited $40,000 in a TFSA at one bank, and $40,000 in a second TFSA at another. Neither bank would flag your account, but you would still be over the limit. Ultimately it is up to you to confirm that you stay within your TFSA limit.