Additional room is added to everyone’s TFSA each year on January 1. For 2021, the TFSA new contribution limit is $6,000. For anyone who took money out of their TFSAs in 2020, you’re in luck because you are now able to recontribute those funds. As well, if you have not contributed in past years, you still have that contribution room available in addition to the 2021 contribution room. January 20: Canada Child Benefit and Universal Child Care Benefit. Families with children under the age of 18 may receive the Canada Child Benefit (CCB) and eligible families with children under the age of six may receive the Universal Child Care Benefit (UCCB). These are usually paid around the 20th of each month. With these cash inflows, we recommend to parents of younger children to fund their children’s Registered Education Savings Plans (RESPs) to ensure they receive the maximum Canada Education Savings Grant (CESG) amount.