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.
11 Comments
ryan213@lemmy.ca · 21 pts · 1y
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@sh.itjust.works · 9 pts · 1y
PP tripping over himself to (again) provide tax breaks to the rich.
DarthJon@lemmy.world · -9 pts · 1y
You don't have to be rich to put money into a TFSA.
Lemmyoutofhere@lemmy.ca · 15 pts · 1y
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.
ramjambamalam@lemmy.ca · 1 pts · 1y
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.
Lemmyoutofhere@lemmy.ca · 4 pts · 1y
Agreed, how are they even going to track “invest in Canadian companies”?
masterofn001@lemmy.ca · 3 pts · 1y
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.
sbv@sh.itjust.works · 7 pts · 1y
You have to be doing reasonably well to max out your TFSA. It's like 7k for this year.
HellsBelle@sh.itjust.works · 7 pts · 1y
Almost 10% of us live below the poverty line. Do you think we have the money to invest in a TFSA?
skozzii@lemmy.ca · 5 pts · 1y
Don't worry, I hear is is planning to give people a 50% federal rebate on custom suits, maybe that will help you somehow.
/s
wise_pancake@lemmy.ca · 3 pts · 1y
This will surely help the autoworkers and canola farmers!
skozzii@lemmy.ca · 1 pts · 1y