The New Tax Free Savings Account

Click here for detailed information regarding the new Tax Free Savings (Investment) Account.

There is a lot of confusion regarding this new investment account that every Canadian over the age of 18 can setup. Many people feel it is an account only for savings ie: bank account. That is untrue. Any investment that can go into your RSP can go into this account. So you can purchase GIC's, mutual funds or stocks and invest them on a tax free basis.

That is the key benefit to this plan, the growth on your investment is all tax free!

The current limit is $5,000 and this will be indexed each year with inflation. If you don't deposit the full amount each year it will be carried forward to the next year similar to the RSP.

This plan is an excellent addition to every Canadians overall savings/investment program and should be utilized in conjunction with RSP savings.

Call us today to discuss further how this plan can benefit you. Or click here to send an email and book an appointment with Tony.


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