Tax-Free Savings Account (TFSA)
A Tax-Free Savings Account is a new option for Canadians looking to save the most of their money as they can. Deposit up to $5,000 a year, earn interest and access your money at any time, completely tax-free. You can even carry forward unused allowances into later years. It's your money, you should enjoy it without losing any of it to the tax man.
Features and Benefits
- Unlimited Deposit Insurance on all Registered Deposits.
- Flexible contribution options (weekly, bi-weekly, monthly).
- Carry forward unused balances if you don't use your full limit one year, the space is still available, cumulatively, for as long as you hold the account.
