Tax Free Savings Account (TFSA)


The Tax Free Savings Account (TFSA) is a unique savings program (beyond RRSPs) now offered to help you save money to pursue personal projects, tax free and  protect income generated by fund earnings (existing investments, investment income, inheritances, donations etc.) that you would like to place in a tax shelter.

What Are The Advantages Of A TFSA?

Simple and accessible to everyone. If you’re a Canadian resident age 18 or older, you can contribute up to $5500 annually in a tax-free account regardless of your income!

Tax Free. Any earnings generated (interest, capital gains or dividends) in the TFSA, as well as withdrawn are not taxable.

Cumulative Contribution Room. Unused contribution room accumulates indefinitely.

Ease Of Withdrawals. You can withdraw at any time without penalty* There is no restriction as to the use of the withdrawals. It can even be redeposited into the account again.

*certain conditions apply

Ideal Compliment To An RRSP. The TFSA investment instrument complements an RRSP, as an efficient way to save and put more money towards your retirement.

No Affect on Income Based Government Benefits. Neither the TFSA contributions nor the earnings affect eligibility for the guaranteed Income Supplement, Old Age Security, the Canada Child Tax Benefit or other government benefits based on income.

Wide Range Of Investment Possibilities. You have the freedom to choose the funds – daily interest, guaranteed interest and a wide range of segregated funds – that reflect your needs.

Practical income splitting tool A couple can contribute to two TFSAs even if one of them has no income.

The TFSA is the biggest innovation to encourage personal savings since the creation of the RRSP by the government of Canada! Wait no More! Take advantage of this opportunity now!