All investment income earned in a TFSA, such as interest and dividends, as well as capital gains, is tax-free. This makes TFSAs more and more useful as the years go by.
Of course, you can withdraw any amount from the TFSA at any time, tax-free. Doing so re-creates that amount of contribution room, but only on the next January 1, not immediately.
| The total of the above amounts is $52,000. | |
| 2009 | $ 5,000 |
| 2010 | $ 5,000 |
| 2011 | $ 5,000 |
| 2012 | $ 5,000 |
| 2013 | $ 5,500 |
| 2014 | $ 5,500 |
| 2015 | $ 10,000 |
| 2016 | $ 5,500 |
| 2017 | $ 5,500 |
| Born before 1992 (2009-2017) | $ 52,000 |
| 1992 (2010-2017) | $ 47,000 |
| 1993 (2011-2017) | $ 42,000 |
| 1994 (2012-2017) | $ 37,000 |
| 1995 (2013-2017) | $ 32,000 |
| 1996 (2014-2017) | $ 26,500 |
| 1996 (2014-2017) | $ 21,000 |
| 1998 (2016, 2017) | $ 11,000 |
| 1999 (2017 only) | $ 5,500 |
| 2000 or later (age 17 and under) | Nil |