A Tax-Free Savings Account (TFSAs) lets you save tax-free for any goal you want. Here are 6 things to know before you open one.
Tax-free savings account (TFSAs)
1. These accounts are available to Canadians age 18+
2. You can save tax free for any goal you want (car, home, vacation).
3. You don’t need earned income to contribute
4. You can take money out when you want, for any reason without paying tax.
5. If you take money out, you can re-contribute in the following year.
6. You can hold a wide range of investments in this account like GIC, Mutual Fund
Want to know more about whether this account is right for you? Consult with me today.
