Rudy Mezzetta
Canadians held a total of $298.1 billion in their TFSAs in 2018, with the average TFSA holder having $20,292, according to statistics released by the Canada Revenue Agency (CRA) on Wednesday.
The figures reflect the total fair market value (FMV) of all TFSAs at the end of the 2018 contribution year, the most recent year for which the CRA has statistics.
Total assets held in TFSAs was up 7.7% from 2017, when the total FMV of all TFSAs was $276.7 billion. The average FMV of assets held in TFSAs per individual TFSA holder was up 3.4% from the previous year, when it was $19,633.
The average unused TFSA contribution room in 2018 was $34,165, up 10.4% from 2017 when the average unused room was $30,947.