The Tax Free Savings Account (TFSA) Contribution Limit

question 54

Multiple Choice

The Tax Free Savings Account (TFSA) contribution limit

• A)is fixed at $5,000/year
• B)will increase at a rate of 10% per year
• C)is indexed to the CPI and increases in multiples of $500
• D)varies by an individual's income
• E)decreases with increased RRSP contributions in the same year

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Definitions:

Emotional Support

The provision of reassurance, acceptance, and encouragement during times of stress.

Instrumental Aid

Assistance given to someone, often in practical or material form, to support them in achieving a task or overcoming a difficulty.

Appraisal

The process of assessing or evaluating the significance of something, often in terms of how it impacts one's emotions or stress levels.

Avoidance-Avoidance Conflict

A psychological conflict that arises when an individual must choose between two equally unattractive options or outcomes.