this post was submitted on 27 Mar 2025

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Poilievre to hike TFSA contribution limit by $5K for those who invest in Canadian companies (www.cbc.ca)

submitted 5 days ago by HellsBelle to c/[email protected]

11 comments fedilink hide all child comments

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.

all 12 comments

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[–] [email protected] 21 points 5 days ago

He's courting lower income voters who somehow have enough money to put in a higher ceiling TFSA.

That's a bold strategy, Cotton.

[–] HellsBelle 9 points 5 days ago (1 children)

PP tripping over himself to (again) provide tax breaks to the rich.

[+] [email protected] -8 points 5 days ago (3 children)

You don't have to be rich to put money into a TFSA.

[–] [email protected] 14 points 5 days ago* (last edited 5 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 5 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 5 days ago (1 children)

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

[–] [email protected] 3 points 4 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.

[–] HellsBelle 7 points 5 days ago (1 children)

Almost 10% of us live below the poverty line. Do you think we have the money to invest in a TFSA?

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

Don't worry, I hear is is planning to give people a 50% federal rebate on custom suits, maybe that will help you somehow.

[–] sbv 6 points 5 days ago

You have to be doing reasonably well to max out your TFSA. It's like 7k for this year.

[–] [email protected] 2 points 4 days ago

This will surely help the autoworkers and canola farmers!