Tax-Free Savings Account
Invest with peace of mind
A TFSA, or Tax-Free Savings Account, is a government program that allows you to save money, tax-free. That means any income you earn through your TFSA, including capital gains, won't be taxed. And you won't be taxed with it's withdrawn either.
*Must be 19 years or older, with a valid Social Insurance Number
Talk to us today
Our Investment Team works in your best interest to help you get the most out of your hard-earned savings.
Book your complimentary appointment.
Why invest in a TFSA?
How a TFSA can up your investment game
Yearly contribution limit
Every year, the government lets you deposit more money into your TFSA. There is no contribution deadline and if you can’t afford to put money aside one year, your unused contribution room carries over.
Years |
TFSA Annual Limit |
Cumulative Total |
|---|---|---|
2009-2012 |
$5,000 |
$20,000 |
2013 |
$5,500 |
$25,500 |
2014 |
$5,500 |
$31,000 |
2015 |
$10,000 |
$41,000 |
2016 |
$5,500 |
$46,500 |
2017 |
$5,500 |
$52,000 |
2018 |
$5,500 |
$57,500 |
2019 |
$6,000 |
$63,500 |
2020 |
$6,000 |
$69,500 |
2021 |
$6,000 |
$75,500 |
2022 |
$6,000 |
$81,500 |
2023 |
$6,500 |
$88,000 |
The great debate: TFSA vs. RRSP
|
What are your investing needs?
|
TFSA
|
RRSP
|
|---|---|---|
|
Do contributions reduce your taxable income?
|
No
|
Yes
|
|
Are these funds subject to income tax when withdrawn?
|
No
|
Yes
|
|
Is interest earned on these investments tax sheltered?
|
Yes
|
Yes
|
|
Can these funds be withdrawn anytime, for any reason, without being taxed?
|
Yes
|
No
|
Make your investments do more:
make the most of a TFSA
Call us at 1.888.517.7000 Mon-Fri, 8am-8pm; Sat, 8am-5pm.
Coast Capital Savings Federal Credit Union is a member of the Canada Deposit Insurance Corporation (CDIC). More CDIC information
Coast Capital Savings Federal Credit Union provides advice and service related to deposit, loan and mortgage products. Coast Capital Wealth Management Ltd. provides investment and financial planning services. Coast Capital Financial Management Ltd. provides advice and service related to segregated funds, annuities and life insurance products. Worldsource Financial Management Inc. provides advice and service relating to mutual funds. Mutual fund values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses may all be related with mutual fund investments. Important information about mutual funds is contained in the relevant fund facts and simplified prospectus. Please read the fund facts carefully before investing. Only deposits payable in Canada are eligible to be insured under the Canada Deposit Insurance Corporation Act.
The Low-fee, More-for-me Mutual Funds® are managed by SEI Investments Canada Company. Worldsource Financial Management provides mutual funds and services. Mutual fund values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses all may be related with mutual fund investments. Please read the Fund Facts carefully before investing.
* Government of Canada. Indexation adjustment for personal income tax and benefit amounts. https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/adjustment-personal-income-tax-benefit-amounts.html