Glossary entry (derived from question below)
English term or phrase:
Contribution room
Italian translation:
limite contributivo
English term
Contribution room
3 | limite contributivo | martini |
PRO (2): martini, Alessandra Rizzo
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Proposed translations
limite contributivo
TFSA contribution room
Your TFSA contribution room is the maximum amount that you can contribute to your TFSA.
https://www.canada.ca/en/revenue-agency/services/tax/individ...
You can find your registered retirement savings plan (RRSP), pooled registered savings plan (PRPP) deduction limit, often called your "contribution room" by going to:
...
the "Available contribution room for 2018" amount found on the RRSP Deduction Limit Statement
https://www.canada.ca/en/revenue-agency/services/tax/individ...
Because of the awesome tax-sheltered benefits that are offered by TFSAs (read more on that here), the government sets a limit to how much you contribute to TFSAs. All TFSA contributions made during the year, including the re-contribution of withdrawals made from a TFSA, will count against your contribution room. If you exceed the contribution limit (even if accidentally), you could receive a tax penalty from the Canadian Revenue Agency (CRA). Learn more about that what happens if you over-contribute.
https://help.wealthsimple.com/hc/en-ca/articles/115014931608...
https://en.wikipedia.org/wiki/Tax-Free_Savings_Account
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