Tax Free Saving Account

TFSA: flexible, tax free savings for your goals

Watch your savings grow and enjoy tax-free withdrawals.

Flexible contributions with room to re-contribute in the future.

Withdraw without affecting federal benefits or credits.

Is a TFSA right for you?

Whether you're saving for a short-term goal or looking to supplement your retirement plans, a TFSA offers unmatched flexibility and tax advantages.

Enjoy tax-free growth and unmatched flexibility while protecting your benefits.

Tax-Free Growth: Grow your savings faster with tax-free investment income and withdrawals.
Flexible Contribution Rules:
- Annual limits set by the Federal Government.
- Unused contribution room rolls over to future years.
- Withdrawals can be re-contributed in future years (avoid re-contributing in the same year to prevent penalties).
No Impact on Benefits: Income and withdrawals don’t affect eligibility for federal benefits like Old Age Security or GST credits.

Find the right investments to meet your savings goals.

Term Deposits: Secure, fixed-rate investments.
High Interest Savings Accounts: Flexible access with competitive interest rates.

Flexible and transferable savings for every stage of life.

Contributions are not tax-deductible but offer long-term flexibility.
Funds can be gifted to a spouse or common-law partner for their TFSA.
TFSA assets can generally be transferred to a spouse or common-law partner upon death.