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Tax-Free Savings Account

TFSAs are registered savings plans that let you save your after-tax income and pay no further taxes on those funds or the investment returns. This will help you save money for short and long-term goals.

 
 

 Why Contribute to your TFSA?

  • Contributions with after-tax dollars

  • Contributions not tax deductible

  • Earnings are tax sheltered

  • Withdrawals are not taxable

  • Withdrawal of funds increases contribution room for the following year of the withdrawal and for future years' use

  • You can contribute to your spouse/common-law partner’s TFSA transfer your TFSA to your spouse (tax free) upon death. 

2009 to 2012    .......... $5,000

2013 and 2014  ......... $5,500

       2015           .......... $10,000

2016 to 2018    .......... $5,500

2019 to 2022 .......... $6,000 

      

TFSA Withdrawals

Be informed of what happens when you make a withdrawal

Who Can Contribute?

See if you meet the qualifications 

What's the Difference?

What product works best for you and your savings goals? 

 
 

Invest in your future

Maximize your contribution room. Let our member service representatives get you started

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Your deposits are protected.

At Oshawa Community Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits not in registered accounts are insured up to $250,000.
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