A Tax-Free Savings Account (TFSA) will help you save money for short and long-term goals. Because it’s tax-free, you pay no taxes on the interest or investment income earned when you take it out.
The contribution room for 2022 is $6,000.
Enjoy the benefits of a TFSA
- Grow your money – Because your TFSA is tax-free, your earnings will be tax sheltered.
- Contribute to your TFSA for as long as you’d like.
- Use it for short and long-term goals – You don’t have to repay a TFSA withdrawal.
- Carry over withdrawals – Any withdrawal you make adds extra contribution room the following year.
- Unused contribution room can be carried to future years.
- It can hold a number of investments – Term deposits, mutual funds and stocks included.
Whether you're saving for retirement, a new car or a dream vacation, our experienced team will tailor their advice to help you maximize your savings to get there.