Can multiple family members contribute to a tax free savings account?

Q – Can a privately owned company be the possessor of a TFSA account and can each member of a family contribute their TFSA annual contributions to this single fund? – Samuel C.

A – No. Tax-Free Savings Accounts are the personal property of an individual. No company can open one and no other person can contribute to your account, not even your spouse. – G.P.

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