Tax Free Savings Account

TFSA

Starting in 2009, any individual (other than a trust) who is resident in Canada and 18 years of age or older will be able to accumulate annual contribution room of $5,000 each year. Certain provinces legislate that an individual may have to be 19 in order to be eligible to establish a TFSA and save within a TFSA account. Discover more

All You Need To Know About the TFSA

Who is eligible? Any individual (other than a trust) who is at least 18 years old, who is a resident of Canada and has a valid Social Insurance Number (SIN) can be a holder of a TFSA. How to set-up a TFSA? You set up a TFSA through a bank, credit union or other financial service provider who is eligible to issue a TFSA. They are referred to as the issuer of the plan. Discover more

TFSA Pamphlet

Tax-Free Money for What Matters to You. Canadians need to save for many different purposes over their lifetimes. Reducing taxes on savings can help. That’s why the Government has introduced a new Tax-Free Savings Account (TFSA). It’s the single most important personal savings vehicle since the introduction of the Registered Retirement Savings Plan (RRSP). Discover more
 

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