Start your TFSA early and set yourself up for future success.
TFSA stands for Tax Free Savings Account — an account that allows you to save and invest for the future, without being taxed on gains within the account.
Features and benefits of a TFSA:
TFSAs are similar to baskets. With a TFSA, you can pick your financial instrument, such as a stock or term deposit, and add it to your basket, being your tax free savings account. Below are the financial instruments you can choose from:
Because TFSA's are so great, the government had to put a limit on how much an individual can save. But don't worry, depending on your age, the amount you can save is still significantly high.
New to contribution limits? Speak with an advisor >
Already familiar? View this year's contribution limit >
$5,000 and over
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