Mr. Speaker, the member should have read the Financial Post today. If he had, he would have seen this:
Almost one in five Canadians with a TFSA have maximized the contribution room in their account, according to documents from the Canada Revenue Agency obtained by the Financial Post.
It’s not just high-income Canadians who appear to have maxed out their TFSA, which offers a life-time exemption from taxes on any investment gains. Right across the income spectrum, significant percentages of Canadians appear poised to benefit from the increase in contribution limits.
In fact, “Working-class finds ways to max out TFSAs”. It is “60% of Canadians who earn less than $60K”. That is a quote.