Tax Free Savings Account (TFSA)

Kick start your savings in a Tax Free Savings Account (TFSA). This savings account is flexible enough to be used to purchase a new car, renovate a house, start a small business, or take a family vacation;while also saving for the future.

TFSA Features:

  • Earn investment income tax free inside the account.
  • Contributions are not tax deductible; withdrawals are not taxable.
  • Contribute up to $5,500 in 2016.
  • Carry forward unused contribution room.
  • Flexibility in how much and when you want to withdraw and re-contribute.
  • Neither income earned in a TFSA nor withdrawals will affect your eligibility for federal income-tested benefits and credits.

You can hold most Term Deposits within your TFSA, including SASCU's Market Linked Term Deposits! Or go with a more accessable Investor Savings Plan.

    Unused contribution room from 2009 carried forward. Ask your SASCU Service Representative for more information.
    Year200920102011201220132014201520162017Unused
    from 2009
    Contribution
    Limit
    $5,000 $5,000 $5,000 $5,000 $5,500 $5,500 $10,000 $5,500 $5,500 $52,000

    To view the Government of Canada info, click here.

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    Mutual funds and securities related financial planning services are offered through Qtrade Asset Management Inc., Member MFDA.