Tax-Free Savings Account

The Tax-Free Savings Account (TFSA) is the most exciting innovation in personal savings since the creation of the Registered Retirement Savings Plan (RRSP) by the government of Canada.

The TFSA is a unique tax-free savings program (non-RRSP) that can help you:

  • Accumulate more saving to pursuer personal projects, Tax Free.
  • Place income generated by invested sums (existing investments, investment income, inheritances, donations, etc.) in a tax shelter account.
  • Maximize your savings with retirement in mind.
Advantages of TFSA
  • Simple and accessible
    You can contribute up to $5,500 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    Any earnings generated (interest, capital gains or dividends) in the TFSA, as well as sums withdrawn, are not taxable.
  • Cumulative contribution room
    Unused annual contribution room accumulates indefinitely.
  • Ease of withdrawals
    You can withdraw any amount at any time without penalty. *There is no restriction as to the use of withdrawals.
  • Ideal complement to an RRSP
    The TFSA investment instrument complements an RRSP as an efficient way to save and put more money toward your retirement.
  • No effect on income-based government benefits
    Neither TFSA contributions nor its 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 investments
    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.
  • Collateral assignment
    It's possible to assign the assets of a TFSA as collateral for a loan.
For more information,
please contact us at

(647) 833-2782