Beginning in 2009 Canadian residents 18 and older are allowed to contribute _________ per year to a Tax Free Savings Account:

Question

Quizplus · Accepted Answer

Beginning in 2009, Canadian residents 18 and older were allowed to contribute up to $5,000 per year to their Tax Free Savings Account (TFSA). This limit has since been increased to $6,000 per year in 2019. The other options (A, B, C, and D) were previous contribution limits that were in place before the limit was increased to $5,000. Therefore, the best choice is E -- $5,000.

Beginning in 2009 Canadian Residents 18 and Older Are Allowed