Financial Literacy
Empower yourself. Take control of your finances.
Empower yourself. Take control of your finances.
There's more to a credit union than just banking.
Be mindful of the environment and access everything you need electronically.
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Connect with our Business Banking team
Be mindful of the environment and access everything you need electronically.
Be mindful of the environment and access everything you need electronically.
A TFSA is the perfect way to reach your savings goals faster.
A simple investment option designed to help you save money.
A Tax-Free Savings Account (TFSA) lets you save your after-tax income and pay no further taxes on those funds or the investment returns.
Use the money in your TFSA for any reason you like.
Your TFSA savings row tax-free and withdrawals are tax-free.
Withdrawals increase your contribution limit the following year.
Withdraw money any time (subject to investment restrictions).
Unused contribution room can be carried forward to use in future years.
Withdrawals don't affect your eligibility for federal income-tested benefits.
How much can you contribute?
Year(s) | Contribution limit |
---|---|
2009-2012 | $5,000 |
2013-2014 | $5,500 |
2015 | $10,000 |
2016 | $5,500 |
2017 | $5,500 |
2018 | $5,500 |
2019 | $6,000 |
2020 | $6,000 |
2021 | $6,000 |
2022 | $6,000 |
Please consult your Notice Of Assessment or call the Canada Revenue Agency (CRA) at 1-800-959-8281 to find out your personal TFSA contribution limit. Unused contributions from previous years can be carried over and past withdrawals can be re-contributed in the following year.
TFSA INVESTMENT SAVINGS | Rate |
---|---|
All Balances |
0.85
|
A TFSA is the perfect way to reach your savings goals faster.
Let our investment advisors guide you on the right path to your financial success.
Diversify your investments like an expert with a FirstOntario investment advisor.
Get a competitive rate of return with no risk.
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