TFSA Calculator
Tax-Free Savings
See how the income you earn in this account can grow as it remains tax free.
Tab Section: RRSP
What is an TFSA?
A Tax Free Savings Account (TFSA) is registered with the Canadian government. Canadian residents over the age of 18 may set money aside in a TFSA throughout their lifetime. While there is a contribution limit for TFSA accounts and TFSAs are not tax-deductible for income tax purposes, any investment income or capital gains earned in the account is tax-free even when it is withdrawn. To learn about contribution limits and other TFSA rules, visit the Canada Revenue Agency website, or ask a Kindred Financial Planning Team member for advice.
You can invest in mutual funds, GICs, and more within your TFSA.
RRSPs or TFSA, What's the Difference?
In this video, Darcy explains the differences between a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TSFA), and what to consider when it comes to building your savings and earning interest. Depending on your unique financial needs, the choice between a RRSP or a TSFA can make all the difference to achieving your money management goals.
