While the Tax-Free Savings Account (TFSA) dollar limit was $5,500 in 2017, there is, in fact, no deadline for making a contribution. If you’ve never contributed to a TFSA before, you can currently contribute up to $52,000 in one shot!
Happy New Year! Now is the perfect time to take a picture of your odometer. If you are self-employed and do not track your business-related driving, the CRA will disallow all auto expenses. For more information on allowable expenses and mileage tracking, contact the office for an appointment at 905-571-2665.