this post was submitted on 27 Mar 2025
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Conservative Leader Pierre Poilievre announced Thursday that a government led by him would allow Canadians to contribute $5,000 more a year to their tax-free savings account (TFSA) — as long as that extra cash is being invested in Canadian companies.

Poilievre is pitching it as a way to keep more investment dollars at home because the extra contribution limit will be earmarked for Canadian investments alone.

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[–] [email protected] 14 points 6 days ago* (last edited 6 days ago) (1 children)

What percentage of Canadians have maxed out their TFSA contributions?

Edit: Looks like 4-5%, so this will only help the top 5% at most.

[–] [email protected] 1 points 6 days ago (1 children)

Devil's advocate: the better question is what percentage of Canadians will eventually max out their TFSA?

I don't think it's a good policy anyway, as the administrative overhead of managing yet another registered investing account (or making TFSA reporting more complicated) is more hassle than it's worth.

[–] [email protected] 4 points 6 days ago (1 children)

Agreed, how are they even going to track “invest in Canadian companies”?

[–] [email protected] 3 points 5 days ago

One of my tfsa is in investments using wealthsimple.

They do report tax info so I guess that's one way.

Or, you would send the new tax forms with your proof of investment.

Still, it'e an all around stupid idea that nobody really needs.