TFSA Limit for 2019

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New TFSA Limit for 2019 and other updated amounts

Just announced the new TFSA limit in 2019 will be 6,000 – raised from the current 5,500 in 2018.  This means that if you have never contributed to a TFSA (and have been eligible to contribute to the plan) you may be able to deposit $63,500 in 2019.

The current maximum RRSP contribution in 2018 is $26,230 (based on income) in 2019 it will be raised to $26,500

New Tax Brackets in 2019: the basic personal amount for 2019 is $12,069, up from $11,809 in 2018.

OAS Threshold: If your net income exceeds $75,910 in 2018 you will repay part /all of the OAS pension.  The amount for 2019 is $77,580

-Jodi

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