Hello there, Can we have both RRSP and TFSA or we are allowed to have just only one either RRSP or TFSA ? Please advise. Thanks for your help.
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Hello there, Can we have both RRSP and TFSA or we are allowed to have just only one either RRSP or TFSA ? Please advise. Thanks for your help.
yes you can have both.
They are separate, and you may have both. Each have their own rules and limit.
You can definitely have both.
You can also call into CRA and find out what your TFSA contribution limit for the year is. Since its January its a good habit to check.
I just called in and it was very interesting. Not the number i thought it was :dunno: .
$36500 (total contributions) is what your TFSA limit should be this year as long as you were 18+ at inception of the program
you can also check your tfsa limits on the CRA my account:
http://www.cra-arc.gc.ca/myaccount/