Manage episode 345856765 series 2996769
A TFSA is an investment account that is registered with the federal government. Within a TFSA, you can invest in a variety of assets — stocks, bond, mutual funds, and more. There are yearly limits to how much you can contribute to a TFSA. You don't receive a tax deduction for the money you contribute to a TFSA. Instead, over the lifetime of the TFSA, the money in the account grows tax free. Additionally, when you withdraw money from the account, you pay no tax on the proceeds.
Video and transcript available here: https://invested.mdm.ca/financial-literacy/tfsa
For complete information on the terms and conditions of TFSAs, please contact your MD Advisor*
* MD Advisor refers to an MD Management Limited Financial Consultant or Investment Advisor (in Quebec).
MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies and Scotia Wealth Insurance Services Inc. For a detailed list of the MD Group of Companies visit md.ca and visit scotiawealthmanagement.com for more information on Scotia Wealth Insurance Services Inc.