​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. 

If you are unsure of your TFSA contribution limit, you can call CRA at 1-800-959-8281. You must provide them with your SIN, date of birth and line 150 from your most recent tax return filed.

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TFSA Withdrawals

Be informed of what happens when you make a withdrawal

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Who Can Contribute?

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What's the Difference?

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