December 2, 2018
RRSP and TFSA Numbers Update
- The RRSP Maximum contribution for 2018 is $26,230; for 2019, $26,500.
- In 2018, the annual TFSA limit is $5,500 giving a total of $57,500 for someone who has never contributed and has been eligible for the TFSA since its introduction in 2009. The annual limit for 2019 is $6,000, for a total of $63,500 investment room available in 2019 for someone who has been eligible since 2009.
Note: Withdrawals from TFSAs, with gains and losses considered, affects the available TFSA room: To date, unused TFSA contribution room plus total withdrawals made in this year plus next year’s TFSA dollar limit equals the TFSA contribution room at the beginning of next year.
- Maximum pensionable earnings for 2018 is $55,900; further it is $57,400 in 2019; and the basic exemption amount remains $3,500 for 2018 and 2019.
Source: CRA
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