WTF is a TFSA? The basics every Canadian should know during a recession (opens original article in a new tab)

The article explains what a Tax-Free Savings Account (TFSA) is, its benefits, contribution limits, and limitations, emphasizing its role as a flexible and tax-free savings and investment option for Canadians during a recession.

• A TFSA is a tax-free savings account that allows investments in cash, GICs, stocks, and more.
• Contribution limits are $7,000 for 2026, with unused room rolling over annually.
• Exceeding contribution limits incurs a 1% monthly tax on the excess amount.