A TFSA is a Tax Free Savings Account. It’s similar to an RRSP except contributions aren’t tax deductible and the yearly contribution cap is $5000. Any income generated inside the TFSA is tax free when withdrawn. There is absolutely no downside to using a TFSA, other than the time it takes to set up, which we can assist you with. For more information on the TFSA, visit the government’s website.
What is a TFSA?
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