We matched that to:

What are the advantages of saving in a Tax-Free Savings Account (TFSA)?

TFSAs are a great way to save for a wide range of goals. You can use your TFSA savings to buy a new car, pay for school, take a vacation, or put money away for a down payment on a home, or even your retirement. You can access your money tax-free anytime (subject to any limitations on the investments held) and re-contribute amounts that you withdraw beginning in the year after you withdraw the funds.

TFSAs are a flexible registered savings plan that allows you to save without paying tax on your investment income or withdrawals.

If you are a Canadian resident and have reached the age of majority in your province or territory of residence, you are eligible to open a Tax–Free Savings Account (TFSA) with TD. If the age of majority is 19 where you live, you’ll accumulate contribution room from age 18.

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

Did we answer your question?

back to topTop