Tax Free Savings Account

[bigbadboss101]

repost

[TYMSMNY]

There's already a thread on this. You should be able to open them now and deposit a cheque in Jan.

[rawsensation]

Originally posted by bigbadboss101
Various financial institutions would offer this:

On January 2, 2009, TD Waterhouse Discount Brokerage will offer the new Tax-Free Savings Account (TFSA), announced by the Canadian government in the 2008 budget. A TFSA is a flexible account that allows you to earn income without paying taxes. Here are some of the things you should know about the new TFSA.

* As of January 2009 you can contribute up to $5,000 a year
* You can invest in eligible investments such as stocks, mutual funds, and fixed income securities
* Income earned (e.g. capital gains, dividends, interest) is Tax Free
* You can withdraw tax free from your TFSA whenever you want

http://forums.beyond.ca/st/229995/th...-account-tfsa/