TFSA Contribution Limit for 2025 Stays at $7,000 [Yahoo! Finance Canada]
TC Energy Corporation (TRP)
Last tc energy corporation earnings: 5/1 07:30 am
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Source: Yahoo! Finance Canada
Tax-Free Savings Account (TFSA) users welcome the yearly expansion of their contribution limits. The government announced $500 increases in 2023 (to $6,500) and 2024 (to $7,000) to compensate for high inflation. For next year, the limit will stay at $7,000. However, for anyone eligible to open a TFSA since 2009, the total or cumulative contribution room on January 1, 2025, is $102,000. The TFSA came after the Registered Retirement Savings Plan (RRSP) and is Canadians' second effective retirement savings tool today. While TFSA contributions are not tax-deductible, all earnings from qualified investments inside the account are tax-exempt. Moreover, there is zero tax on withdrawals. Most users prefer to hold dividend stocks because of higher earnings potential. If you plan to maximize your available contribution room in 2025 to include unused contributions, Bank of Nova Scotia TSX:BNS ) and South Bow Corporation TSX:SOBO ) are profitable choices. Big bank BNS is a no-brainer cho
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TRP
Earnings
- 11/7/24 - Beat
TRP
Sec Filings
- 12/2/24 - Form 6-K
- 11/20/24 - Form 6-K
- 11/13/24 - Form SC
- TRP's page on the SEC website