Tax Free Savings Accounts (TFSAs)

A Tax Free Savings Account (TFSA) is not the same as a regular Savings Account. Contributions to a TFSA, limited to $5000 per year, are not deductible for income tax purposes. Interest on money borrowed to invest in a TFSA is not tax-deductible; however, the income generated in such an account is tax-free, even when it is withdrawn. A great new option to help you save money!

TFSA Calculator