Have you opened a Tax Free Savings account ?  The Tax Free Savings account was introduced on January 1, 2009 and many Canadians have taken advantage of this Tax Sheltered Vehicle for investing.  2012 TFSA Contribution Amount will remain at $5,000. With the application of the indexation increase of 2.8% for 2012 and rounding the result to the nearest $500, the TFSA dollar limit for 2012 remains at $5,000.