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The TFSA (tax-free savings account) allows investors to earn tax-free returns on a specified investment amount called contribution room. For this year, the Canadian Revenue Agency has fixed the contribution room at $7,000. Investors should be careful in this volatile equity market, as the decline in stock value and subsequent stock selling could reduce the contribution room. Meanwhile, here are four top TSX stocks that are ideal additions to your TFSA in any market.
Canadian Utilities
Canadian Utilities (TSX:CU) is a diversified global energy infrastructure corporation that transmits and distributes electricity and natural gas. Besides, it has a strong presence in power production and industrial water solutions. Given its low-risk utility business, the company has been generating stable and predictable cash flows, thus allowing it to raise its dividends for 51 years, the longest public Canadian company…
