Grow Your Wealth
Tax Free Savings
Maximize your savings potential with a Tax-Free Savings Account (TFSA), where your earnings grow and withdrawals are tax-free.
TAX SAVINGS
Grow Wealth Tax-Free
Tax-Free Savings Account (TFSA), where your investments grow without the burden of taxes.
TAX FREE SAVINGS
Benefits of an TFSA
Registered Education Savings Plans (RESPs) are an excellent tool for saving for a child's future education after high school. Contributions to an RESP can grow tax-free until withdrawn.
SECURE FUTURE
Unlock Financial Growth with TFSA Today
Experience unparalleled growth with a Tax-Free Savings Account (TFSA) that lets your investments flourish without tax burdens, offering unmatched flexibility and security for your financial journey.
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Exploring Types of TFSAs
Discover the flexibility of Tax-Free Savings Accounts (TFSAs) with options tailored to your financial goals.
Savings TFSA
- Ideal for short-term savings and emergency funds, providing easy access to your money.
- Offers a stable, compatible and low-risk option with interest accrued tax-free from aspects.
- Perfect choice for those conservative investors seeking a secure place to store cash.
Investment TFSA
- Designed for long-term growth, allowing you to invest in stocks, bonds, ETFs, and mutual funds.
- Benefits from the potential for higher returns through diversified investment options.
- Suitable for investors comfortable with risk and aiming for substantial growth over time.
Self-Directed TFSA
- Empowers you to manage your own portfolio, offering maximum control over your investments.
- Provides access to a broad range of investment choices, including real estate and private investments.
- Ideal for experienced investors who prefer a hands-on approach to their financial strategy.
FAQs
Frequently Asked Questions
Find quick and clear answers to all your inquiries about Tax Free Savings (TFSA) in our FAQs
A Tax-Free Savings Account (TFSA) is a flexible investment account where your money can grow tax-free, and withdrawals are also tax-free.
The annual contribution limit varies each year. It's important to check the current year's limit, and unused contribution room can be carried forward indefinitely.
Excess contributions are subject to a penalty tax of 1% per month on the excess amount until it is withdrawn.
Yes, you can hold a variety of investments, including cash, stocks, bonds, mutual funds, and exchange-traded funds (ETFs).
No, all withdrawals from a TFSA are tax-free, including any income or capital gains earned.
Yes, you can withdraw funds from your TFSA at any time, for any purpose, without penalty.
Withdrawals do not reduce your contribution room. The withdrawn amount is added back to your contribution room in the following year.
Yes, you can have multiple TFSAs, but the total contributions across all accounts must not exceed your annual limit.
Any Canadian resident aged 18 or older with a valid Social Insurance Number (SIN) can open a TFSA.
TFSAs offer tax-free withdrawals and do not provide tax deductions for contributions, while RRSPs provide tax deductions for contributions but are taxed upon withdrawal.
Maximize Your Savings Today
Take control of your financial future by opening a Tax-Free Savings Account today. Enjoy the benefits of tax-free growth on your investments and start saving towards your goals.