Tax-Free Savings Account (TFSA)

Tax-Free Savings Account (TFSA)

The Benefits of a Desjardins TFSA

TFSA contributions are a great way to save money tax-free for your short- and long-term goals.

  • Tax-free investment income
  • Tax-free withdrawals
  • Cumulative contributions

Get the most out of your TFSA

Good to know

  • The 2020 contribution limit is $6,000.
  • If you’ve already contributed to a TFSA and you withdraw from it during the year, the amount withdrawn will be added to your contribution room for the following year.
  • The cumulative limit is $69,500. This limit has increased every year since 2009 or since the year you turned 18, if you’re a Canadian resident.

The TFSA: one of the best tax shelters (1 min. 50 s.) External link. This link will open in a new window.

The TFSA is undoubtedly one of the best tax shelters and it’s becoming increasingly popular with Canadians every year. The advantage that comes with a TFSA, is to earn tax-sheltered income through your investments.

See the FAQ This link will open in a new window.

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