Tax Free Savings Account (TFSA)
A Tax-Free Savings Account is a new way for residents of Canada to set money aside, tax-free, throughout their lifetimes.
Contributions to a TFSA and the interest on money borrowed to invest in a TFSA are not tax deductible. The income generated in the TFSA is tax-free when withdrawn.
For 2013, if you are eligible, you can contribute up to $5,500 to your TFSA. The annual TFSA dollar limit will be indexed to the inflation rates.
To start taking advantage of the TFSA, please call us today!