Granpax5's TFSA What is a TFSA?
The Canadian government introduced Tax Free Savings Account (TFSAs) in 2009 as a way to encourage Canadians to save money. You can pick what to put in that basket from a bevy of financial instruments—exchange traded funds, guaranteed investment certificates, stocks, bonds and yes, actual cash savings. All capital gains are non-taxable. Since you paid tax on the money you put into your TFSA, you won’t have to pay anything when you take money out.