The Tax-Free Savings Account (TFSA) is considered to be the most important savings plan introduced in Canada in the past 50 years.
Converting from RRSP
Use it to save for a vacation, a car, home renovations – whatever. The choice is yours.
Tax-Free Benefits
The Three most important benefits are:
- Allowed to contribute a maximum dollar amount each year
- Your investments grow tax free
- You don’t pay tax when you withdraw money
- Funds withdrawn in one year can be replaced in the next year
Examples of investments that can be held in a TFSA are: savings accounts, term deposits, mutual funds.
For More information:
Please call Wade at 306-745-6615 or by email: wade.penman@northvalleycu.com
*Mutual funds are offered through Investia Financial Services Inc.
