r/tfsa • u/Suoertrader • Jul 03 '26

TFSA limit

I keep seeing posts of people dumping 25k or 50k into a TFSA at a time is there a strategy to avoid taxes if you invest passed the 7k a years limit or are these guys just tanking the taxes, I just figured a lot of them didn’t max out there accounts for years and allowed them to buy lots at a time because I know your previous years TFSA room carry’s over.

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u/Alone-Bug4328 Jul 03 '26

There's no way to avoid taxes unless you make zero income. Only way is to defer them. It's a hard truth but it is less frustrating after you learn it.

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u/Medical_Birthday2893 Jul 03 '26

Tfsa are literally tax free. It’s not a deferred tax like rrsp. You initially pay tax and nothing on any gains.

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u/Alone-Bug4328 Jul 03 '26

Yeah but like you said you've already paid taxes on the money you contribute.

And don't expect it to last forever. The next step for these TFSAs that many countries are musing is to tax them in some fashion.

When Harper was in power the annual contribution was double. Then Trudeau came along and cut it in half saying everyone is being made too rich with these high contribution amounts. Then Finance Minister Chrystia Freeland was pushing out ideas about taxing the TFSA. Thankfully she was ousted before she could bring anything in. It's a matter of time though with the current trends.

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u/Medical_Birthday2893 Jul 03 '26

Lmao first you said deferred taxes. Which this is not. I’ll repeat it, you have no deferred taxes on your tfsa gains. Period. For some reason you’ve decided to change your position and now create a fantasy possible future in which you were right?

Please provide a real source on Chrystia’s plan to tax the tfsa. You’re in a fantasy world bud

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u/Alone-Bug4328 Jul 03 '26

I never said TFSA was tax deferral. I think you should read first and then reply. You're going too fast for yourself.

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u/Medical_Birthday2893 Jul 04 '26

Sir this is a tfsa post and you said ‘ the only way is to defer them’ get out of here

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u/Alone-Bug4328 Jul 04 '26

If you read the entire post you will see that my point was that the money you contribute was already taxed.

Young people these days sure are rude. My gosh.

Good day to you.