Debbie Sitzer Chartered Accountant

Description

Any check on the state of one’s TFSA has to start by determining one’s current year contribution limit. The Canada Revenue Agency (CRA) used to provide that information on each taxpayer’s Notice of Assessment, but that is no longer the case. Taxpayers can obtain information on their current-year limit on the CRA website, using the Quick Access service at http://www.cra-arc.gc.ca/quickaccess/ . It’s not necessary to pre-register for that service, but users will be asked for their social insurance number, date of birth, and amount entered on line 150 of their 2013 tax return. Taxpayers who have already registered for the CRA’s My Account service can log on there ( http://www.cra-arc.gc.ca/myaccount/ ) to obtain information on their 2014 TFSA contribution limit. Finally, taxpayer-specific information on TFSA limits can be obtained by calling the Tax Information Phone Service (TIPS) line at 1-800-267-6999. Here again, the taxpayer will be asked to provide his or her social insurance number, date of birth, and the amount entered on line 150 of their 2013 tax return.

Fact sheet

Products & services

Similar companies nearby