Tax Free Savings Accounts

A TFSA means flexible, tax-free savings

A Tax-Free Savings Account (TFSA) is a registered, tax advantaged account available to Canadian residents aged 18 or older. Every year Canadians gain new TFSA deposit room which can be carried into the future if not used. 

A TFSA can include investments like:

• Term deposits 
• Mutual funds
• Stocks  

TFSA benefits

Interest and investment income earned in a TFSA—including capital gains—is not taxed upon withdrawal and there are no restrictions on how the money is spent. Funds can be withdrawn at any time without penalty and any amount you withdraw can be put back into the tax-free account the following year without affecting your contribution limit.

Even better, neither the income earned in a tax-free account nor withdrawals from it affect eligibility for income-tested benefits and tax credits such as the Guaranteed Income Supplement (GIS). 

TFSA High-Interest Savings Account

This account offers a competitive interest rate. You can withdraw your funds any time*. 

See what’s new on the Canada Revenue Agency website. 

*You get one free withdrawal a month. Subsequent withdrawals (in the same month) are $5 each.

Mutual funds are offered through Qtrade Asset Management (a tradename of Credential Asset Management Inc).  Mutual funds and other securities are offered through Qtrade Advisor, a division of Credential Qtrade Securities Inc.