Tax-Free Savings Account
Set up a Tax-Free Savings Account
Described by the Finance Minister as the
“... single most important personal savings vehicle since the introduction of the RRSP.”
Described by the Finance Minister as the
“... single most important personal savings vehicle since the introduction of the RRSP.”
TFSAs are an attractive addition to any investment planning strategy. They offer significant tax savings in addition to your existing
tax-assisted savings plans, such as Registered Retirement Savings Plans and Registered Education Savings Plans – they should be
for all taxpayers.
The TFSAs are eligible to all Canadian residents who are 18 years or older. Although the money you contribute to your TFSA is not
tax-deductible, the investment income and capital gains earned on investments in the account are tax-free. Similar to an RRSP, the
government determines your remaining available contribution limit for coming years. The maximum annual contribution amount is $5,000 for 2009. The TFSA is flexible and allows you to take out money without losing any contribution room and without tax consequences. Unused contribution room is carried forward, and the length of time is limitless. Earned income is not required for contributions – you can give funds
to your spouse to build up his or her TFSA.
Additional information is available at:
Government of Canada - Tax Free-Savings Accounts Brochure / Canada Revenue Agency – Tax-Free Savings Accounts FAQ
Please contact an Investment Advisor for more details, and to learn how to easily set up your new Pollitt & Co Inc. Tax-Free Savings Account.
Set up your account now.
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Pollitt & Co Inc. is a Member of: Canadian Investor Protection Fund, Investment Industry Regulatory Organization of Canada, Toronto Stock Exchange and TSX Venture Exchange. The material in this website is not to be considered a solicitation to open accounts in jurisdictions where Pollitt & Co Inc. is not registered. |