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Questions?
Tax-Free Savings Accounts (TFSAs) are available to any Canadian resident age 18 and older with a Social Insurance Number.
No, they’re not. Only RRSP contributions are. But withdrawals from a TFSA aren’t subject to withholding tax and you can make them anytime!
Any amount you withdraw will be added to your contribution room for the following year. Your contributions for one year can only be $6,000 no matter what you withdraw.
The initial deposit must be $1,000 or more. If you don’t have $1,000, no problem. You can open a TFSA Savings Account. Deposit as little or as much as you like and save, tax-free, for that $1,000 initial deposit. Apply today or if you already have a registered investment with us, you can open a TFSA Savings Account through digital banking. Go to Accounts > Open Account > Registered > TFSA Savings Account.
