Here is a overview of how the tax-free savings account (TFSA) works: All Canadian residents, aged 18 or older, can contribute to a TFSA. Investment income earned in a TFSA is tax-free. Withdrawals from a TFSA are tax-free. Contributions into the TFSA are not tax-deductible. A wide range of investment options such Guaranteed Investment Certificates (GICs), mutual…
How the tax-free savings account (TFSA) works?
Posted on