Save our TFSA: Working Canadians launches petition to preserve $10,000 limit

Malcolm Hamilton: Higher TFSA limit needed in world of low interest rates and rising life expectancies

As my online piece in the Financial Post this morning reports, Catherine Swift and her Working Canadians group are releasing an online petition urging millions of Canadians with Tax-free Savings Accounts (TFSAs) to ask the incoming Liberal administration to keep annual contribution levels at $10,000.

You can find the Save our TFSA petition here.

Catherine Women's Post 001
Catherine Swift,

As we noted last Thursday in Working Canadians’ Catherine Swift to Liberals: Retain $10,000 TFSA contribution limit,  one of our readers actually suggested such a petition be launched. I reproduce the email below:

There would be an enormous protest from many individuals if this comes to pass. Is there an organized petition to fight this plan, please? As a needing widow retiree, I wish to join one. — VB

Well there is an organized petition now and the Hub urges readers to sign it. I also encourage readers who are registered users here (it’s free) to add comments below or to email me at and we’ll add some of them to this blog and/or any followup blogs to come in the coming weeks.

If you agree with the statement in bold below, then get online and add your name to the petition.

I want the federal Liberal government to leave the Tax Free Savings Account (TFSA) at the current $10,000 per year contribution limit

It takes about a minute to join the petition. Go to this link, enter your name, province, postal code and email address, then click the Send button. Simple! But you can do more. If you feel strongly about this issue, then use your social media networks to spread the word about this petition: tweet out my piece at the Post as well as this one, put it on Facebook, Linked In, Google Plus or send private e-mails to your network. Include your MP!

PS1: When you click through to the FP blog there is now also a video by me describing the changes to the TFSA. This is also housed at Findependence.TV.

PS2:  The full Working Canadians press release on the petition can be found below:

Working Canadians launches petition to keep the Tax Free Savings Account (TFSA) limit at $10,000

Toronto, October 27, 2015 – Due to the overwhelmingly positive reaction received to last week’s recommendation from Working Canadians that the Tax Free Savings Account (TFSA) limit should remain at $10,000., the organization now plans to present a formal petition to the House of Commons on this matter. Currently, average Canadian private sector taxpayers – 80% of Canadians – contribute billions of dollars every year to generous public sector pensions, funds that otherwise could go toward their own retirement. One of the few means these Canadians have to save in a tax-efficient way is the TFSA. The very least the federal government can do to help the vast majority of Canadians save for a decent retirement is to leave the TFSA contribution limit at the current level of $10,000.

The newly-elected Liberal government has stated its intention to reduce this limit to $5,500. “Working Canadians proposes that this change be reconsidered in light of the importance of the TFSA to Canadians and considering the growing disparity between government employees, who are very well taken care of by generous taxpayer-funded pensions, and the 80% of Canadians who lack anything close to a government pension themselves yet foot the bill for these very pensions they will never enjoy,” stated Swift.

The petition can be found at

To arrange an interview with Catherine Swift, contact Gisele Lumsden at 647 466-5509 or by email:

Catherine Swift is Spokesperson for Working Canadians, a not-for-profit organization dedicated to opposing the negative impact excessive union influence has on the Canadian economy and society. 

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