Tax-Free Savings Account

TFSA

Flexible Tax-Free Growth

Understanding your TFSA

The Tax-Free Savings Account (TFSA) allows you to set money aside tax-free throughout your lifetime. Earn investment income, including interest, dividends, and capital gains, completely free of tax.

Best Suited For

Anyone over 18 saving for short or long-term goals

Retirees wanting tax-free income

Investors maximizing tax efficiency

Low-income earners avoiding benefit clawbacks

At a Glance

Tax StatusTax-Free

Contribution LimitFixed Annual Limit

WithdrawalsAnytime, Tax-Free

Primary UseAny Savings Goal

Why choose a TFSA?

Key advantages designed to help you reach your goals faster.

100% Tax-Free

You never pay tax on the investment earnings or withdrawals. Keep every penny of profit you make.

Complete Flexibility

Withdraw funds at any time for any reason without penalty or tax consequences.

Recontribute Withdrawals

Amounts withdrawn are added back to your contribution room the following calendar year.

Account Rules & Features

Everything you need to know about how your TFSA works.

Annual contribution limit set by the government ($7,000 for 2024)

Unused room carries forward indefinitely

Can hold cash, stocks, bonds, GICs, and mutual funds

No age limit for contributions

Need help deciding?

Our financial advisors can help you determine the best investment strategy for your unique situation.