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The CRA has confirmed that the Tax-Free Savings Account (TFSA) contribution limit for 2024 will be $7,000, up from $6,500 in 2023. This is the first time it has increased two years in a row and is a great way to put away money tax-free. | H&R Block Canada
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The CRA has confirmed that the Tax-Free Savings Account (TFSA) contribution limit for 2024 will be $7,000, up from $6,500 in 2023. This is the first time it has increased two years in a row and is a great way to put away money tax-free. | H&R Block Canada
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TFSA: Who can open this account? Anyone who is a resident of Canada, at least 18 years old, and has a valid Social Insurance Number (SIN) can open a Tax-Free Savings Account (TFSA). There is no income requirement to open a TFSA. Age: Must be 18 years of age or older (or the age of majority in their province of residence, which is 19 in some provinces). Residency: Must be a resident of Canada for income tax purposes. Identification: Must have a valid Social Insurance Number (SIN). #TFSA Disclaime
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TFSA: Who can open this account? Anyone who is a resident of Canada, at least 18 years old, and has a valid Social Insurance Number (SIN) can open a Tax-Free Savings Account (TFSA). There is no income requirement to open a TFSA. Age: Must be 18 years of age or older (or the age of majority in their province of residence, which is 19 in some provinces). Residency: Must be a resident of Canada for income tax purposes. Identification: Must have a valid Social Insurance Number (SIN). #TFSA Disclaime
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The CRA has confirmed that the Tax-Free Savings Account (TFSA) contribution limit for 2024 will be $7,000, up from $6,500 in 2023. This is the first time it has increased two years in a row and is a great way to put away money tax-free. | H&R Block Canada
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The CRA has confirmed that the Tax-Free Savings Account (TFSA…
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