How They Work
The TFSA is a registered savings account that allows taxpayers to earn investment income tax-free inside the account. Contributions to the account are not deductible for tax purposes, and withdrawals of contributions and earnings from the account are not taxable.
Any individual (other than a trust) who is resident in Canada and 18 years of age or older is eligible to establish a TFSA.
The CRA will determine TFSA contribution room (based on information provided by issuers) for each eligible individual who files an annual T1 individual income tax return.
For answers to other Frequently Asked Questions visit the website link below:
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About Us
We serve individuals, families and businesses in the Mission area.
Our primary goal is to help each client meet their unique financial goals by focusing on six key areas of needs analysis:
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