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Tax-Free Savings Accounts (TFSA)

Protect your investment earnings and withdrawals from tax

  • Any eligible investments held within a TFSA are tax-sheltered and grow tax free
  • Withdrawals from a TFSA are not taxed upon withdrawal or included in the holder’s income 
  • Unlike an RRSP, you do not receive a tax deduction for any contributions made to a TFSA; therefore the proceeds deposited to a TFSA are after-tax 
  • Canadian residents 18 years of age or older are eligible to contribute to a TFSA 
  • As of January 1, 2018, the annual contribution limit is $5,500, providing up to $57,500 of cumulative contribution room. 

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