Tax-Free Savings Account

Tax Free Savings Account (TFSA) is a flexible general-purpose saving medium that allows Canadians residents (age 18 or above) to save for short term and long term requirements. The income earned in TFSA is tax-free. Withdrawals from a TFSA are also tax-free as contributions are not tax-deductible. That means if you earn $5,000 on your investment, it’s 100% yours to keep without any tax obligation.

Saving tax-free for any length of time and for various goals, such as saving for a home, vacation or a big purchase

Benefits of TFSA:

Opportunity to earn investment income, tax-free – Any interest, capital gains or dividend income you earn within the account is not subject to tax.

Flexibility to withdraw your savings, tax-free – At any time and for any purpose you choose.

Contribute to a spouse’s TFSA – You can contribute towards your spouse TFSA. But your total contribution to any account cannot exceed the maximum allowed.

Wide range of investment options for enhanced flexibility – Including guaranteed investment certificates (GICs), stocks, bonds etc.

No impact to your government benefits – No income you receive or withdrawals you make from a TFSA will affect your eligibility to receive income-tested benefits such as the Guaranteed Income Supplement, Canada Child Tax Benefit or Old Age Security benefits.

Give us a call at (+1) 416 991 5959 or fill the form to get a free quote or book a free and confidential appointment to get more detailed information about TFSA and its benefits. You’ve got nothing to lose and potentially thousands of dollars to gain. Your future is definitely worth it!


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