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Who is eligible for a TFSA?

The idea behind TFSAs is to make the benefits of tax-free savings available to as many Canadians as possible. For that reason, TFSAs are available to every Canadian resident who is 18 years of age or older and has a Social Insurance Number (SIN).

However, at TD, you must have achieved age of majority in order to open a TFSA. So, if you live in British Columbia, Newfoundland and Labrador, Nova Scotia or New Brunswick, then you can’t actually open a TFSA with TD until you are 19, which is the age of majority in those provinces. However, you will accumulate contribution room from the time you are 18.

>> See which TFSA account option may be suitable for you and to apply.

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