Save and invest tax free with a tax-free savings account (TFSA). A TFSA lets you save money and invest it tax free.
If you would like to make tax-free investments, a TFSA may be for you.
When you open a TFSA, you can contribute up to $5,500 each year. If you don’t contribute all of that money in one year, you can use your unused contribution room in future years when you’re able to.
When you make in investment in a TFSA account, you pay no taxes on the return you get on your investments. Even better, when you withdraw money from a TFSA account, it isn’t taxed and it doesn’t affect certain income-tested benefits (like Old Age Security).
Visit the Canada Revenue Agency website to find out more about:
Empire Life mutual funds and Emblem Portfolios can be held in a TFSA. Talk to your advisor before investing.