For example, there is a column posted on National Newswatch about a CIBC sponsored Angus Reid poll. It has the catchy headline that “A third of Canadians won’t take advantage of new TFSA limits.”
Yet, when you click on the link, the inside title states that only “10 percent of those surveyed plan to max out TFSA annual limit.“
Yet, in fact, neither result seems to be completely accurate.
Specificially, if you read the original source for this poll at PRNewswire, you will see something else again in a table under the heading “Awareness.” It indicates that 38% of those surveyed said, “I haven’t yet but intend to [contribute to my TFSA],” while another 4% say “they have already topped up their TFSA account.”
So, if you add those two numbers together you get 42% of those surveyed have or plan to take advantage of the new limit of $10,000 — not the “10%” in the heading.
Meaning, not only are the headlines misleading, so are the stated outcomes. In fact, the whole poll is questionable. For instance, in the PRNewswire column we read: “On April 30 and May 4, 2015, an online survey was conducted among 3,011 randomly selected Canadian adults who are Angus Reid Forum panelists.” (My underlining.)
Sorry, but if you are a member of the Angus Reid online site, you have NOT been randomly selected per se because it is a self-select group to begin with. Meaning, the research was not done using a traditional random sample.
Regardless, the crux of the matter is that this CIBC Angus Reid poll is meant only to undermine the new Conservative Government initiative of raising the TFSA limit from $5,500 to $10,000 — by claiming that few Canadians intend to do so.
When, in reality, based on Angus Reid’s own figures, up to 42% of those surveyed actually plan to “up” their contribution level, if they haven’t already.