Tax-Free Savings Account (TFSA)

Considered the most important personal savings vehicle since the Registered Retirement Savings Plan (RRSP), the TFSA allows you to save for the short term and long term, tax-free. Investment income or capital gains earned in a TFSA are not taxed... ever.

 Who can save?

Every Canadian resident 18 years of age or older is eligible to save or invest up to $5,000 every year in a registered Tax-Free Savings Account. 

 Advantages of a TFSA

• Save for anything you want
• Grow your money tax-free
• Withdraw funds at anytime without a tax penalty
• Carry forward your contribution room
• Supplement your RRSP
• Tax-free savings even if you’re over 71 

TFSA Investment Options

Like an RRSP, you can have a number of different investments in a TFSA, including:

• High interest savings account
• GICs
• Mutual funds
• Stocks and bonds 

Still have questions? Visit our TFSA Frequently Asked Questions page.

We also invite you to visit the Government of Canada TFSA site for more information.

Interested in talking about this investment option, visit or call us at SASCU Wealth.

Mutual funds and other securities are offered through Qtrade Advisor, a division of Qtrade Securities Inc., member of the Canadian Investor Protection Fund. Mutual funds are also offered through Qtrade Asset Management Inc., member MFDA.