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Tax Free Savings Accounts (TFSAs) are 2009’s hottest savings tool for Canadians over the age of 18. A TFSA is a registered savings account that allows you to invest up to $5000 per year and withdraw funds whenever you’d like, all without a penny paid in taxes.
Here’s how it works:
- earn income tax-free
- make income-tax free withdrawals whenever you’d like
- contribution up to a maximum of $5000 per year
Your contributions aren’t tax deductible, but you get to enjoy tax-free growth on your savings which is like a government sponsored gift for Canadians.
Call us at 403.320.4600 or ask us for more information.
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