Income generation is the primary objective of most Tax-Free Savings Account (TFSA) users. Dividend investing is also the preferred strategy to achieve financial goals, both short- and long-term.
The best stocks to invest $7,000 in or use your available TFSA contribution room right now are NorthWest Healthcare Properties (TSX:NWH.UN), Amerigo Resources (TSX: ARG), and Gamehost (TSX: GH). Read on to see why.
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Public Health and Safety
NorthWest Healthcare is the only real estate investment trust (REIT) in the cure sector. This $1.3 billion REIT gained prominence during the global pandemic in 2020. Because of COVID-19, public health and safety are among the world’s top priorities today.
REITs are alternatives to direct ownership of income-producing properties. NorthWest’s global portfolio consists of hospitals, clinics, and medical office buildings. Besides the lower cash outlay, a TFSA investor receives recurring income streams just like a real landlord collecting rental income. NWH.UN trades at $5.09 per share and pays a hefty 7.1% dividend.
Zachary Vaughan, the newly appointed CEO, said, “The assets we own and operate are critical components of healthcare infrastructure. Our assets have long-term demand drivers, recession-resistant cash flows and very low obsolescence risk.” His statement summarizes NorthWest Healthcare’s competitive advantage.
World-Class Copper Resource
Amerigo Resources belongs to the top-performing basic materials sector. This small-cap mining stock is a high-flyer. At only $3.11 per share, the year-to-date gain is 108.7%. Had you invested $7,000 at year-end 2024, your TFSA contribution would be more than double today, or $14,610.74.
The $445.7 million company is a copper factory. Amerigo produces copper from the waste material of El Teniente, which is the world’s largest underground copper mine. The location is in the Andes Mountains of central Chile.
According to management, El Teniente’s mine life could run up to 2082. Amerigo offers exposure to a pure copper play with a sustainable business model.
Entertainment
Gamehost flies under the radar but has kept pace with the broader market’s bull run in 2025. If you’re investing for income through the TFSA, this hospitality stock fits your objective. At $11.85 per share (+22.1% year-to-date), the dividend yield is 5.1%. The monthly payout frequency is an added incentive.
This $243 million entertainment and hospitality company operates in the resorts and casinos industry. Its hospitality and gaming properties in Alberta offer live entertainment and gaming as well as conference facilities and guest rooms. The high profit margins enable Gamehost to generate stable dividend streams for shareholders.
The annual income fluctuates but there’s no losing year based on the financial data from the last four years. In the first half of 2025, operating revenue and comprehensive profit increased 2.8% and 12%, respectively, to $42 million and $10.7 million compared to the first half of 2024. According to Gamehost, its business currently benefits from the continued spending of Alberta consumers and their local bias.
Tax-Free Income
TFSA users who have yet to use their $7,000 contribution limit have three outstanding investment choices. The dividend income or capital gains from NorthWest Healthcare, Amerigo Resources, and Gamehost are all tax-free.
