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Philip just won $100,000 in the lottery! With this money he would like to invest it wisely and put as much as he can in
Philip just won $100,000 in the lottery! With this money he would like to invest it wisely and put as much as he can in a Tax-Free Savings Account (TFSA). Calculate Philip's maximum amount that he can contribute to his TFSA assuming the following: . We are December 17, 2021 Philip is 60 years old and just retired Philip contributed $4,000 to his TFSA in 2019 Tax-Free Savings Account (TFSA): Annual Limits Years Annual Limit Years Annual Limit Year started 2009- 2012 $5,000/year 2016 - 2018 $5,500/year 2013 - 2014 2019-2020 $5,500/year $10,000/year $6,000/year $6,000/year 2015 2021 A $15,500 B $75,500 $60,000 D $71,500 E Philip can no longer contribute to his TFSA as he is retired
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