Revenue agency clarifies TFSA after budget

Revenue agency clarifies TFSA after budget

Revenue agency clarifies TFSA after budget The Canada Revenue Agency says that the new limit for tax free savings accounts (TFSAs) announced in the budget on Tuesday can be used immediately. The limit almost doubled from $5,500 to $10,000 but many were not clear when they could add the extra funds to their accounts and the government’s finance ministry was reportedly giving mixed answers.