Beginning January 2009, Canadian residents age 18 years or older will have a new way of saving and investing for their future with the Tax-Free Savings Account (TFSA), introduced by the Government of Canada in the 2008 Budget.

Tax Free Savings Accounts will be one of the most flexible savings tools available to Canadians. A great new way to save - tax-free!

• contribute up to $5,000 per year
• savings and investments grow tax-free
• unused contribution room can be carried forward indefinitely
• eligible investments include cash, stocks, bonds, GICs, and mutual funds
• withdraw your money at any time, for any reason, without being taxed and you may replace the withdrawn funds the following year
• no maximum age limit on contributing
• TFSA contributions will not affect your RRSP contribution limit or other federal income-tested benefits or tax credits

At Canaccord Capital, we can set up your account and provide you with recommendations for investment options in your new Tax-Free Savings Account.

Additional Questions?

We have put together some basic information to help you better understand a TFSA and how it may complement your investment strategy.