Go Back   Alberta Outdoorsmen Forum > Main Category > General Discussion

Reply
 
Thread Tools Display Modes
  #1  
Old 10-09-2018, 06:54 PM
pikergolf's Avatar
pikergolf pikergolf is offline
 
Join Date: Nov 2008
Posts: 11,285
Default TFSA question

I am at my limit for the year but have lots of room for years gone by. Can I just keep contributing without making any adjustments?
__________________
“One of the sad signs of our times is that we have demonized those who produce, subsidized those who refuse to produce, and canonized those who complain.”

Thomas Sowell
Reply With Quote
  #2  
Old 10-09-2018, 07:07 PM
rookiemoosehunter's Avatar
rookiemoosehunter rookiemoosehunter is offline
 
Join Date: Jul 2009
Posts: 403
Default

Yes you can.
Reply With Quote
  #3  
Old 10-09-2018, 07:12 PM
58thecat's Avatar
58thecat 58thecat is offline
 
Join Date: Dec 2012
Location: At the end of the Thirsty Beaver Trail, Pinsky lake, Alberta.
Posts: 24,497
Default

Yup, dump in up to your allotted max if you want....or I can hold it for you
__________________

Be careful when you follow the masses, sometimes the "M" is silent...
Reply With Quote
  #4  
Old 10-09-2018, 07:56 PM
DiabeticKripple's Avatar
DiabeticKripple DiabeticKripple is offline
 
Join Date: Feb 2012
Location: Blackfalds
Posts: 6,935
Default

You get $5500/year even if you don’t use it (plus the years Harper increased it)

Your contribution amount compounds
Reply With Quote
  #5  
Old 10-09-2018, 08:03 PM
Skytop B Skytop B is offline
 
Join Date: Jun 2014
Posts: 1,264
Default

Should be $54000 you can put in I believe
Reply With Quote
  #6  
Old 10-09-2018, 08:55 PM
BGS906 BGS906 is offline
 
Join Date: Dec 2007
Location: Devon
Posts: 28
Default

Here are the year by year and total contribution limits ;
Year TFSA Annual Limit
2009 $5,000 $5,000
2010 $5,000 $10,000
2011 $5,000 $15,000
2012 $5,000 $20,000
2013 $5,500 $25,500
2014 $5,500 $31,000
2015 $10,000 $41,000
2016 $5,500 $46,500
2017 $5,500 $52,000
2018 $5,500 $57,500
Reply With Quote
  #7  
Old 10-10-2018, 06:24 PM
birdbeast birdbeast is offline
 
Join Date: Jun 2018
Posts: 114
Default

Quote:
Originally Posted by BGS906 View Post
Here are the year by year and total contribution limits ;
Year TFSA Annual Limit
2009 $5,000 $5,000
2010 $5,000 $10,000
2011 $5,000 $15,000
2012 $5,000 $20,000
2013 $5,500 $25,500
2014 $5,500 $31,000
2015 $10,000 $41,000
2016 $5,500 $46,500
2017 $5,500 $52,000
2018 $5,500 $57,500
This is correct. My wife and I sold our acreage and had a lot of cash. We each contributed $45,000 this year to top us both up to $57,500.
Reply With Quote
  #8  
Old 10-10-2018, 06:41 PM
220 Swift 220 Swift is offline
 
Join Date: May 2007
Location: SE, Saskatchewan
Posts: 671
Default

Make sure you dont over contribute. Big penalty. Takes about 6 months to find out it happened.

Been there done that.
Reply With Quote
  #9  
Old 10-10-2018, 09:29 PM
jrowan jrowan is offline
 
Join Date: Sep 2016
Location: Calgary
Posts: 361
Default

Quote:
Originally Posted by DiabeticKripple View Post
You get $5500/year even if you don’t use it (plus the years Harper increased it)

Your contribution amount compounds
Plus anything you widthdrawl is added back to your limit next year.
Reply With Quote
  #10  
Old 10-10-2018, 09:37 PM
58thecat's Avatar
58thecat 58thecat is offline
 
Join Date: Dec 2012
Location: At the end of the Thirsty Beaver Trail, Pinsky lake, Alberta.
Posts: 24,497
Default

Quote:
Originally Posted by 220 Swift View Post
Make sure you dont over contribute. Big penalty. Takes about 6 months to find out it happened.

Been there done that.
Only if you dont pay attention....had a buddy say that he had issues asked why and he said his financial advisor screwed up....hmmmm asked him how is it that you trust some one on such a simple and I mean simple investment?

Jeepers it is real simple but then again


Milk comes from the store.....
__________________

Be careful when you follow the masses, sometimes the "M" is silent...
Reply With Quote
  #11  
Old 10-10-2018, 09:50 PM
220 Swift 220 Swift is offline
 
Join Date: May 2007
Location: SE, Saskatchewan
Posts: 671
Default

Quote:
Originally Posted by 58thecat View Post
Only if you dont pay attention....had a buddy say that he had issues asked why and he said his financial advisor screwed up....hmmmm asked him how is it that you trust some one on such a simple and I mean simple investment?

Jeepers it is real simple but then again


Milk comes from the store.....
Yes this is correct. How i did it was more than one financial institution and i bought the first year they come out then did again at another institution about 5 years later filling all the years up.

Yes it was my mistake but the silver lining was that i did well on the investment to cover the cost. But as I mentioned was hefty fines.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -6. The time now is 06:42 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.