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Discussion Starter #1
Is there any indication that the contribution limit for TFSA 2010 will be anything other than $5,000?
It is supposed to be inflation indexed like the RRSP limit.

Also, is a year for TFSA a calendar year or a Mar - Feb year like RRSP?
I ask because I tried contributing to my wife's TFSA at PCF and the popup message said "Contribution limit for 2009 is $5,000".
That made me wonder if Govt. might increase the TFSA limit for 2010 and whether it's ok to contribute now and not be hit with overcontribution for 2009.
 

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The year for TFSA is calendar year, because contribution limits aren't based on your earnings in the past year.

I wouldn't overcontribute if I were you.

The original budget statement said "The $5,000 annual contribution limit will be indexed to inflation in $500 increments." We certainly haven't had over 5% inflation in 2009, so it' s highly unlikely the contribution limit will go up this year. If you think otherwise, why not ask Stephen Harper what his plans are for the March budget, and let us know the answer?

See http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/tfsa-celi/ctbtn/wthdrw-eng.html for confirmation on dollar limit. CRA example says limit will be "rounded to nearest $500 increment."
 

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Discussion Starter #3
I wasn't trying to overcontribute - just contribute for 2010.
So the limit for 2010 hasn't been officially announced yet, right?
But it's likely to stay $5,000?
 
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