Tax-Free Savings Account (TFSA)

HomeInvestment and RetirementTax-Free Savings Account (TFSA)

The Tax-Free Savings Account (TFSA) helps anyone of 18 years old and more with a valid Canadian social insurance number to save tax-free for a specific project (renovation, car purchase, start-up launch) and to meet unexpected needs.

The TFSA is unique by its flexibility. You can withdraw amounts whenever you want it without being financially impacted.

4 reasons to save in a TFSA

  1. Grow your money tax-free all your life.

  2. Report what you did not deposit during the previous years (while respecting the annual contribution room).

  3. Withdraw any amount invested in your TFSA for a specific project or to cover an unexpected event, tax-free.

  4. Amounts invested in the TFSA are separated from your RRSP contribution room.

Annual TFSA Contribution Room

2017 $5,500
2016 $5,500
2015 $10,000
2014 $5,500
2013 $5,500
2012 $5,000
2011 $5,000
2010 $5,000
2009 $5,000
 Total $52,000