Liquid’s TFSA and RRSP Accounts
Here you can see what kind of investments I hold in my Tax Free Savings Accounts and Registered Retirement Savings Plan.
Here are the TFSA contribution limits by year.
- 2009 – $5,000
- 2010 – $5,000
- 2011 – $5,000
- 2012 – $5,000
- 2013 – $5,500
- 2014 – $5,500
- 2015 – $10,000
- 2016 – $5,500
- 2017 – $5,500
- Total = $52,000 contribution room
Investment vehicle allocation tips:
- TFSAs are generally good for investing in Bonds, GICs, High interest savings accounts (HISAs), Real Estate Investment Trusts (REITs), and Canadian growth stocks, such as aggressive retail chains and mining/resource companies.
- Canadian dividend paying stocks already receive a dividend tax credit and will not significantly benefit from a tax shelter so they should be invested outside of TFSAs and RRSPs.
- U.S. stocks, especially dividend paying ones, are generally best placed in an RRSP. Thanks to the tax treaty between Canada and the U.S. dividend distribution from a U.S. company will not face withholding tax in a Canadian RRSP.