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Tax Free Savings Accounts

    The Tax-Free Savings Account ( TFSA ) allows Canadians, age 18 and over, to set aside Money Tax-Free throughout their Lifetime .

    What are the Benefits of TFSAs ?

  • Tax-Free Growth; including Investment Income, Interest, Dividends and Capital Gains.

  • Tax-Free withdrawals.

  • Annual Contributions of $5500 ( indexed to Inflation )

  • Previous Year`s Withdrawals are added back to your unused Contribution Room

  • Income earned and Withdrawals have no impact on Federal Income-tested Benefits such as Old Age Security or the Guaranteed Income Supplement.

  • Spousal Contributions permitted subject to available Contribution Room.

  • Unlike RRSPS; there are no Age Restriction on Contributions.

  • TFSAs are permitted to invest in Stocks, Bonds, Mutual Funds, Segregated Funds and GICs.

          Please contact me today:

          Ronald C. Sparkes, CFP,CLU,CH.F.C.
          Chartered Financial Consultant

          Bus:    +1.709-576-1669
          Cell:    +1.709-682-3100
          Fax:    +1.709-576-1832