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 The income generated in the TFSA is tax-free when withdrawn.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 2009, if you are eligible, you can contribute up to $5000 to your TFSA.  After 2009, the annual TFSA dollar limit will be indexed to the inflation rates.

To start taking advantage of the TFSA, please call us today!