Tax Free Savings Account
TFSA: Tax Free Savings Account
The new Tax-Free Savings Account (TFSA) is a flexible, registered general-purpose savings vehicle that allows Canadians to earn tax-free investment income to more easily meet lifetime savings needs. The TFSA complements existing registered savings plans like the Registered Retirement Savings Plans (RRSP) and the Registered Education Savings Plans (RESP).
Why TFSA?
- + TFSA assets can generally be transferred to a spouse or common-law partner upon death.
- + TFSA provides tax free growth
- + TFSA can be withdrawn any time
- + TFSA do not need any minimum deposits
- - Daily Interest
- - Mutual Funds
- - Series of Segregated Funds
- - GICs
- - Term Investments
- - Guaranteed Returns Products
We do have savings tools that give you a maturity guarantee. Talk to Us to get more information on this.