Tax-Free Savings Account (TFSA)

Be in control of your money, that’s freedom

Take advantage of the versatility you want when it comes to your savings.

What is a TFSA?

A TFSA is an account that allows you to invest your money and grow it completely tax-free while having the flexibility to withdraw it whenever you need it. You can hold mutual funds or segregated fund policies in your TFSA.


You can set money aside for your immediate goals, like buying yourself a new car or saving for that special vacation, or save for long-term goals like complimenting your income at retirement.


Whether you’re saving money for the short-term or long-term, you’ll have quick and easy access to your money.

Grow your money tax-free

Grow your money in your TFSA and withdraw it 100% tax-free when you need it.

Recover your contribution room

Need to withdraw your money? That’s fine, the contribution room will be added back into your TFSA the following year.

How does it work?

Let's start investing in a TFSA today.

Our team can answer all your questions, understand your situation and help you build a plan.

Is a TFSA good for you ?

Things to consider:

How can you open a TFSA?

Just make sure you:

Canada Revenue Agency (CRA) decides how much you can contribute each year into your TFSA. But don’t worry, if you missed a year, or 10 years for that matter, the amount you can contribute is cumulative so you never really lose the room for contribution. In 2022, the annual contribution limit was $6,000.


If you were 18 years old with a valid Canadian SIN in 2009, your total contribution room in your TFSA as of today would be $69,500. A TFSA is a registered account. That means that you could have multiple TFSAs, just know that the total room for contribution applies to all TFSAs (not individual) as a whole, not individually.

Want to know your contribution limit? Sign into the CRA website to learn how much money you’re currently allowed to have in your TFSA.

You can hold mutual funds or segregated funds policies in your TFSA.

No problem. You have quick and easy access to your TFSA and could withdraw anytime you need the money.


  • No limits to how much you can withdraw
  • You’ll never lose your contribution room if you skip or withdraw in a given year for whatever reason.
  • The amount you take out is re-added to your TFSA limit in the following year.

Which one is better for you, RRSP or TFSA?

No matter how you slice and dice it, a TFSA and RRSP both help you save money with distinct advantages. Here’s a table to give you a better picture of the benefits and how they can complement each other.

When can you start investing in one?
When you turn 18 years old, reside in Canada and have a valid Canadian SIN.
When you’ve declared an income and filed your income taxes in the year before.
How long does the account stay open?
Dec 31 of the year you turn age 71, then rolls-over to RRIF

For life

When is the contribution deadline?
March 1st of 2022. You can decide which year you’d like to apply the taxable benefit. You can choose between 2021 and 2022.
There isn't one.
What’s the contribution room?
The lesser amount of 18% of your earned income last year or 2021’s annual limit of $27,830 plus any unused carry-forward contribution room, less any pension adjustments
$6,000 for 2022, plus any withdrawals in a previous year and any unused contribution room carried forward from the previous year
Can you withdraw your money whenever you want?
The contribution room is permanently lost.
The contribution room is never lost. It’s just added to the following year.
What are the taxable benefits?
Your investment income is tax sheltered and your taxes on income is deferred for when you retire. Money you withdraw is taxed at your marginal tax rate, which is usually lower when you’re retired.
Contribution will not reduce your taxable income. However, your money is easy to access, and 100% tax sheltered, meaning you won’t pay any taxes on income/profits earned from your investments.

Plan for your estate.

Transfer your savings and investments with a simple process when it counts the most.