Maximum TFSA Impact: 2 TSX Stocks to Help Multiply Your Wealth

Blackberry stock is one of the 2 TSX stocks to buy for long-term wealth creation in your TFSA.

Key Points
  • The TFSA contribution limit has reached $109,000 for those eligible since 2009, making stock selection crucial to maximize tax-free wealth growth beyond simply contributing the maximum amount.
  • Altagas offers a balanced TFSA investment with growing dividend income (2.49% yield) and capital appreciation potential, having posted 19% EBITDA growth and 17% EPS growth to $1.33 in Q1 driven by strong LPG volumes and pricing.
  • Blackberry provides higher-risk, higher-reward TFSA upside as momentum is strong, with 20% revenue growth in its QNX business and a $950 million backlog signaling multi-year growth ahead.

The tax-free savings account, or TFSA, limit is currently sitting at $109,000. This means that if you were 18 years old or over as of when the TFSA program was first introduced in 2009, you have a lot of room to grow your wealth tax free. The first step in maximizing your wealth under this program is to, of course, fully maximize your TFSA contributions. But once you’ve done this, the second step is just as crucial – buying the right TSX stocks.

Without further ado, here are the TSX stocks that I think will help you achieve the maximum impact in your TFSA. They both have strong upside potential, but they differ in their risk/reward profiles.

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.

Source: Getty Images

Altagas

The first TSX stock to buy for your TFSA account is Altagas Ltd. (TSX: ALA), a Canadian player in both the utilities industry and the midstream industry. Altagas’ utilities segment owns rate-regulated natural gas distribution and storage infrastructure that serves customers across Virginia, Maryland, D.C., and Michigan. Altagas’ midstream segment engages in the export of liquified petroleum gas (LPGs), and natural gas processing and extraction.

This TSX stock is a good buy for your TFSA as it provides growing dividend income as well as the potential for continued long-term capital appreciation. In the company’s first quarter, we saw evidence of the type of growth that the company is experiencing. Normalized earnings before interest, taxes, depreciation, and amortization (EBITDA) of $818 million increased 19%, and earnings per share (EPS) increased 17% to $1.33. This was driven by strong results in both Altagas stock’s segments, with LPG volumes and pricing being especially strong given the conflict in the Middle East.

Altagas stock’s dividend yield is currently 2.5%.

Blackberry

The second TSX stock to buy for your TFSA account is Blackberry Ltd. (TSX: BB). Blackberry’s stock price has enjoyed a very strong rally recently as its business is finally gaining some real momentum. And this is what makes Blackberry stock a solid pick for creating significant TFSA wealth.

Fiscal 2026 was a year that saw Blackberry post double-digit growth of 20% along with strong backlog growth to $950 million in its QNX business. In management’s own words, “The turnaround is complete and Blackberry is now a growth story”.

In Blackberry’s QNX business, the company benefits from a cost of delivery advantage as its scale makes it difficult for individual OEMs to compete with if they try to build connectivity into their cars on their own. Furthermore, the embedded systems that are involved in connected cars, medical products and robotics are mission-critical and highly regulated. And Blackberry has the hard-earned certifications required to participate in this space.

Looking ahead, Blackberry has a strong multi-year revenue growth profile ahead of it. So far in 2026, the stock has rallied 140%. As Blackberry continues to grow in the years ahead, I expect that the stock will generate tax-free strong returns well-suited for any TFSA portfolio.

The bottom line

Altagas and Blackberry stocks are both solidly-run companies that are benefitting from strong secular trends. This is evidenced in the momentum that both of these companies and stocks are seeing in their businesses and in the record results that they’re posting. This makes them top TSX stocks to add to your tax-free savings account for maximum wealth creation.

Fool contributor Karen Thomas has positions in BlackBerry and Altagas. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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