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What’s a TFSA?

A TFSA is a registered investment account designed to help Canadians grow their savings tax-free with qualified investments.


Unlike other registered accounts (like the registered retirement savings plan (RRSP) or the first home savings account (FHSA), which are typically used for specific goals, a TFSA offers tax-free growth and flexible withdrawals. You can use a TFSA for any short- or long-term goals.


How does a TFSA work?

When you put money into a TFSA – known as a contribution - any investment growth on that money is tax-free, if you stay within your contribution limit.


What’s more, you won’t have to pay tax on any withdrawals.

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