Description: A report released by Canada’s Parliamentary Budget Officer is raising alarm regarding the government’s plan to double the limit on Tax Free Savings Accounts (TFSAs). Both the federal government and the provinces would eventually be losing billions in revenue each year as a result of the changes. With aging populations, this raises serious questions about where governments will find the revenue to replace the loss from TFSAs.
Source: Globe and Mail.com
Date: February 25, 2015
1) What is your opinion on the planned increase in the TFSAs?
2) If you had $5,000, would you contribute it to as TFSA or to a registered retirement savings plan?
3) If you were advising the government, what revenue generating strategies might you recommend?