How Married Canadians Can Earn Nearly $10,000 Per Year in Tax-Free Passive Income

The TFSA (Tax-Free Savings Account) is a valuable tool in a family’s plan to accumulate wealth and passive income. When you don’t pay tax on your investment income, you can compound your wealth significantly faster. Likewise, there is no reporting income inside the TFSA, so it drastically simplifies tax season every year.

A single TFSA user who was 18 years or older in 2009 (and a Canadian resident) will be able to contribute an accumulated total of $109,000 (after the $7,000 contribution increase on January 1, 2026). If the same qualifications apply to your partner or spouse, together, you could contribute $218,000 to your TFSAs.

Today, the S&P/TSX Composite Index yields around 2.3%. If you put your combined TFSAs into the index today, you would earn around $5,015 per year in dividend passive income.

Luckily, Canadian investors can do even better by buying individual dividend stocks. For a sum of $218,000, we recommend investors have a diversified portfolio of at least 10-20 stocks.

However, here is a mini four-stock portfolio that a couple could use as a base model. A collective $218,000 invested would earn $9,958.43 of tax-free passive income!

Granite REIT: A solid stock for passive income

Real estate is a great place to look for passive income inside a TFSA. Granite Real Estate Investment Trust (TSX:GRT.UN) is one of the best in Canada.

The REIT has high quality industrial assets with strong tenants, over 97% occupancy, and long-term leases (over five years on average). Likewise, it has an excellent balance sheet and a low payout ratio.

It has raised its distribution for 15 consecutive years. It yields 4.22%. A $54,500 investment in Granite units would earn $199.39 monthly or $2,392.70 annually.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDENDTOTAL PAYOUTFREQUENCYGranite REIT$80.79674$0.2958$199.39Monthly

Canadian Natural Resources

Even though energy prices have not been great in 2025, Canadian Natural Resources (TSX:CNQ) has delivered very strong results. Its long-life energy reserves and factory-like production enable it to earn strong cash flows even in a low energy price environment.

Not only is CNQ one of the best energy companies, but it is also one of the best companies in Canada. It has raised its dividend for 25 consecutive years by 21% compounded annual growth rate (CAGR).

It yields 5.2% today. A $54,500 investment would earn $710.29 of quarterly passive income or $2,841.15 annually.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDENDTOTAL PAYOUTFREQUENCYCanadian Natural Resources$45.071,209$0.5875$710.29Quarterly

Mullen Group

Mullen Group (TSX:MTL) is one of Canada’s largest trucking and logistics company. It has built an empire across North America by acquiring smaller transport providers.

Even though it has experienced a tough freight environment, smart acquisitions have helped supplement earnings. The company has a sustainable dividend and its stock should start to turnaround as the freight environment normalizes.

Mullen stock yields 5.18%. A $54,500 investment would earn $235.34 of monthly passive income or $2,824.08 annualized.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDENDTOTAL PAYOUTFREQUENCYMullen Group$16.213,362$0.07$235.34Monthly

Fortis: A safe anchor for passive income

Fortis (TSX:FTS) is the perfect anchor for a TFSA passive-income portfolio. With nine regulated utilities focused on transmission and distribution, it delivers predictable mid-digit growth every year. Likewise, who can argue with its 52-year record of consecutively increasing its dividend?

Fortis stock yields 3.5% now. A $54,500 investment would earn $475.13 quarterly or $1,900.50 annually.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDENDTOTAL PAYOUTFREQUENCYFortis$51.861,050$0.4525$475.13Quarterly

The post How Married Canadians Can Earn Nearly $10,000 Per Year in Tax-Free Passive Income appeared first on The Motley Fool Canada.

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More reading

• 2 Buys and 1 Sell for Investors Worried About a Market Crash in 2026
• How to Rebalance Your Portfolio for 2026
• 3 of the Best Dividend Stocks to Buy for Long-Term Passive Income
• Retiring in Canada: Build $1,000 a Month in Dividend Income
• 2 No-Brainer Safe Stocks to Buy Right Now for Less Than $200

Fool contributor Robin Brown has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Mullen Group. The Motley Fool recommends Canadian Natural Resources, Fortis, and Granite Real Estate Investment Trust. The Motley Fool has a disclosure policy.