Question 27: Which statement is correct? (1 Point) Tax-Free Savings Account (TFSA) contributions can be made as of age 16. Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Accounts (TFSA) contribution limits do not accumulate if contributions are not made. Tax-Free Savings Account (TFSA) contributions give a tax deduction. The Home Buyers' Plan (HBP) allows you to withdraw money from either your Registered Retirement Savings Plan (RRSP) or your Tax-Free Savings Accounts (TFSA) to help finance the purchase of your first home. The last day you can make contributions to your Registered Retirement Savings Plan (RRSP) is December 31st in the year you turn 71 years old