THE TFSA
The Tax-Free Savings Account (TFSA) is a flexible and convenient registered account.
As its name suggests, this account allows you to accumulate money tax-free in order to build an emergency fund to deal with unforeseen events but above all to carry out your most precious projects throughout your life.
​
​
​
​
​
​
​
In 2023, the TFSA contribution limit is $6,500 to which are added your withdrawals made in 2022 and your unused contribution room from previous years.
​
What you will like about the TFSA account is that your money remains accessible at any time, whenever you need it, since TFSA withdrawals are not taxable.
If you were 18 years or older in 2009, you are a Canadian resident and you have never contributed to a TFSA, your total contribution room is $88,000 in 2023.
