We often hear from clients frustrated with trying to get clear, timely information from the CRA—especially when it comes to things like their TFSA contribution room. If you’ve ever logged into your CRA My Account only to be told to “try again later,” you’re not alone.
The truth is, CRA’s TFSA information is often delayed, sometimes not showing up until well into the next calendar year. This delay is usually due to how and when financial institutions report contributions. It’s not ideal—especially when making a mistake can cost you. Over-contributing to your TFSA can lead to penalties of 1% per month on the excess, and we’ve seen cases where this ends up costing individuals hundreds or even thousands of dollars.
This is where working with a financial advisor becomes incredibly valuable.
At Brant Financial Group, Assante Capital Management Ltd., keeping track of registered account limits—like TFSAs, RRSPs, RESPs, FHSAs, and RDSPs—is part of our standard service. It’s advising 101. You shouldn’t have to rely on a government website or spend hours on hold with CRA to know where you stand.
Tracking your contribution room isn’t as simple as looking up a number. It involves understanding the history of your deposits, withdrawals, transfers, and annual limits—especially if you have more than one TFSA account or make changes to your contributions throughout the year. We stay on top of those details so you don’t have to.
A good advisor does more than pick investments—we help you build a financial strategy that includes tax planning, contribution tracking, and avoiding costly mistakes. That’s real value.
So, if you’re ever unsure about your TFSA room—or any aspect of your financial plan—reach out. Brant Financial Group, Assante Capital Management Ltd., is here to help you get it right the first time.
