Ten things you may not know about TFSAs
The tax free savings account, or TFSA, has been around for six years now and there are still many Canadians that are not taking full advantage of this investment opportunity.
Tax Free Savings Accounts (TFSAs) were introduced in 2009 as a way for Canadians to save money without the concern of being taxed on interest. Despite the benefits of TFSAs, overall participation seems rather low, causing the suspicion that perhaps the average Canadian lacks the knowledge of the full range of features offered by this savings vehicle.
Did you know that you can buy stocks, bonds and mutual funds in a self-directed TFSA, or that existing investments can be transferred to your account? This article from the Globe and Mail showcases 10 things you may not know about TFSAs.