tag:blogger.com,1999:blog-5465015914589377788.post1503262103702034299..comments2024-03-20T09:32:16.592-04:00Comments on Michael James on Money: Short Takes: Leave TFSAs Alone, Lowering Variable Mortgage Rates, and moreMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5465015914589377788.post-13264029338513830062015-03-09T08:42:25.390-04:002015-03-09T08:42:25.390-04:00@Anonymous: I suspect that GIS rules will change ...@Anonymous: I suspect that GIS rules will change at some point to adjust for TFSA assets even if the TFSA limit is never raised.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-72332212744244247442015-03-08T22:51:16.098-04:002015-03-08T22:51:16.098-04:00One factor is that TFSA money will not count as in...One factor is that TFSA money will not count as income in retirement (nor should it), which increases the ability of people to build up a large TFSA and then still collect government pogey, e.g. OAS (or even GIS). Whereas if your nest egg was in the form of an RRSP, your RRIF withdrawals would negate some of the other benefits. I think if the TFSA limit was raised, then some form of means-testing for GIS/OAS would have to come in that is related to net worth rather than annual income, so that these programs are not being abused.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-84677835415101065332015-03-06T10:54:08.868-05:002015-03-06T10:54:08.868-05:00@Mark: The reason so many are against raising the...@Mark: The reason so many are against raising the TFSA limit is that so few Canadians need it raised. Only those who have maxed out their TFSAs can take advantage of a higher limit. This tends to be those who are already well off. We can't limit ourselves to only measures that hep the poor, but raising TFSA limits doesn't even help the middle class much.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-91060483152195610512015-03-06T10:49:06.264-05:002015-03-06T10:49:06.264-05:00I'm not sure why (so many) folks are against r...I'm not sure why (so many) folks are against raising the TFSA contribution limit so much. Yes, general tax revenues might fall but then again folks have an opportunity to save more, invest more so they can eventually spend more. I dunno...I think we over-complicate things. <br /><br />Thanks for the mention!My Own Advisorhttp://www.myownadvisor.canoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-63936828007713854502015-03-06T09:12:24.445-05:002015-03-06T09:12:24.445-05:00Subtle is not my middle name, thanks for the menti...Subtle is not my middle name, thanks for the mention this week, let's hope for some warmer weather too.Alan W. (BCM)http://www.canajunfinances.comnoreply@blogger.com