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Tax-Free Savings Account (TFSA)


Get the most from your savings – tax free

A TFSA is the perfect way to reach your savings goals faster.


Features of a TFSA

Easily accessible savings designed to help you get ahead

A TFSA lets you save your after-tax income and pay no further taxes on those funds or investment returns.

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Lots of opportunities

Use the money for any reason you like.

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TFSA savings grow tax-free and you don’t pay tax on your withdrawals.

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​Withdrawals carry over

When you use your savings, you can re-contribute over and above your annual contribution limit.

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​Access your money any time

Withdraw money whenever you like (subject to investment restrictions).

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​Carry it forward

Unused contribution room can be carried forward to use in future years.

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​Worry-free withdrawals

Withdrawals don’t affect your eligibility for federal income-tested benefits.

All Balances

Consider a TFSA if...

  • You’ve maxed out your RRSP
  • You need a down payment for a home or vehicle (a TFSA withdrawal doesn’t have to be repaid)
  • You want to build an emergency fund
  • You might need access to your savings before retirement
  • You’re a low-income senior
    • Since tax-free TFSA withdrawals won’t be added to your income, they won’t trigger any reductions in Old Age Security benefits or the Guaranteed Income Supplement.
  • You’re married or have a common-law partner
    • TFSA holders can name their spouse as a beneficiary and roll the proceeds over to them upon their death.

TFSA Contribution Limit

How much can you contribute?

Year(s) Contribution limit
2009-2012 $5,000
2013-2014 $5,500
2015 $10,000
2016 $5,500
2017 $5,500
2018 $5,500








Please consult your Notice Of Assessment or call the Canada Revenue Agency (CRA) at 1-800-959-8281 to find out your personal TFSA contribution limit. Unused contributions from previous years can be carried over and past withdrawals can be re-contributed in the following year.

TFSA Calculator

Get the most from your savings – tax free.

A TFSA is the perfect way to reach your savings goals faster.

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*APR. Terms and conditions apply. See in branch for details. Rates subject to change without notice.

Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.