Poilievre promises to increase the Tax-Free Savings Account (TFSA) limit by $5,000 for individuals who invest in Canadian companies.
Nothing about Canadians’ existing TFSAs would change. The existing $7,000 limit would remain. Canadians will now be able to contribute up to an additional $5,000 a year. This is allowed if that money supports Canadian companies. These companies must employ Canadian workers and pay Canadian taxes. The tax system already defines Canadian investments. A Poilievre government will create a definition. This enables financial institutions and advisors to identify which stocks, mutual funds, and other investments are eligible. These can go into your Canada First TFSA Top-Up.
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