Tax

Packing away your TFSA

Many consider the Tax-Free Savings Account (TFSA) to be the most versatile savings account available to Canadians. Not only does it provide tangible benefits such as tax-free income and withdrawals, but it is available to all adult Canadians regardless of age or income level. Unlike other tax-efficient plans that restrict contributions and/or withdrawals based on […]

By Wilmot George |January 4, 2010

4 min read

Don’t be fooled: TFSAs will save money

Not impressed by the debut of Tax Free Savings Account (TFSA)? You aren’t alone. In the first six months following their January 1, 2009 introduction, Canadians had opened 3.6 million TFSAs with an average balance of about $3,400, according to Investor Economics. By the end of June, total assets in the accounts stood at $12.4 […]

By Michelle Munro |January 4, 2010

8 min read

Happy Birthday, TFSA

It has been one year since the Tax Free Saving Account (TFSA) came into being. Its flexible structure had it pegged as the biggest investment opportunity since the now ubiquitous RRSP. With the potential to become one of the most important savings vehicles available to Canadians, the TFSA could be the right plan at the […]

By Staff |January 4, 2010

5 min read

TFSA strategies

January 2009 saw the launch of the Tax Free Savings Account (TFSA). From an advisor’s point of view, the small initial contribution room mean TFSAs are more of a make work project. But as contribution room grows each year, advisors who incorporate TFSAs into their planning strategies will save clients a significant amount of money […]

By Mathieu Paradis |January 4, 2010

5 min read