Tax-Free Savings Account (TFSA)

Tax-free savings account (TFSA)

Take the moment to find the right savings strategy for you

Contribute now – TFSA

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Benefits of a TFSA

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

Save for what you really want

  • Accumulate your savings tax-free. You donít pay any taxes on your investment income or on your withdrawals.
  • Withdraw your money whenever you want, penalty-free, depending on what type of investment you have.
  • Your contributions donít affect your eligibility for income-tested government benefits or credits.
It pays to contribute contest $16,000 in cash prizes

It pays to contribute contest

$16,000 in cash prizes

Learn more  about It pays to contribute contest

Get the most out of your TFSA

  • $6,000 TFSA contribution for 2019
    If youíve already contributed to a TFSA and you withdraw from it during the year, the amount withdrawn will be added to your contribution room for the following year.
  • $63,500 Cumulative limit
    Your TFSA cumulative limit has increased every year since 2009 or since the year you turned 18.
  • 44% Percentage of Canadians with a TFSA
    You can contribute to your TFSA without even thinking about it by setting up automatic transfers.

How do contributions work?

To start accumulating contribution room, you must be a Canadian resident and at least 18 years old.

Years Annual limit Total
2009 to 2012 $5,000 $20,000
2013 and 2014 $5,500 $11,000
2015 $10,000 $10,000
2016 to 2018 $5,500 $16,500
2019 $6,000 $6,000

If youíve never contributed to a TFSA and youíve been eligible since 2009, your unused contribution room for 2019 will be $63,500.

Investments for your savings plan

Desjardins offers you a wide range of investments for your TFSAs. Here are some suggestions that might interest you:

Savings account

Market-linked guaranteed investments

Capital 100% guaranteed at maturity and return potential related to market growth

Client services

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