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tfsa

TFSA Designations Matter

The method that you use to name a successor, owner or beneficiary of a TFSA makes a big difference to your estate, not only for a TFSA to maintain its tax-exempt status but also to ensure that the

Millennial Money Mistakes

Not Taking Saving Seriously

At the dawn of the millennium, there has been an alarming trend of “millennials” (people who have reached adulthood after the year 2000), who have not been gro

TFSA Time Bomb !

The Tax-Free Savings Account (TFSA) was introduced in 2009 as a new way for Canadians to build assets and wealth on a tax-advantaged basis. Any capital gains, dividends or interest income are tax-free upon redemption from the account. The initial contribution amount was $5,000 with annual increases of $5,000. This has been increased to $5,500 in 2013 to offset inflation. This brings the maximum contribution amount for a new subscriber, in 2013, to $25,500.