TFSA Contribution Limits, B.C. Health Care Premiums And More Rule Changes For 2016

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The countdown has ended, the fireworks have exploded and 2016 is here.

That means a new year, a new you and a new set of rules to go along with your resolutions.

Across Canada, a handful of laws, government policies and legal changes came into effect on Jan. 1, 2016. Some, like the reduction to the tax-free savings account contribution limit will impact Canadians coast to coast. Others, like Manitoba’s recognition of post-traumatic stress disorder as a work-related illness will impact a selected bunch.

In British Columbia, expect to shell out a little more for their Medical Services Plan premiums. The rises range from an extra $36 to $72 a year depending on the size of your family or if you’re an individual, according to the CBC.

So whether you plan to focus on your health or wealth this year, check out the video above to see what changes in legislation might affect you.
Source: HP

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