What is a TFSA?
The Tax-Free Savings Account (TFSA) is a flexible savings tool for Canadians. It allows you to save money without paying taxes on the interest earned.
Benefits of a TFSA
- Tax-free growth on investments
- Withdraw funds anytime without penalties
- Contributions can be re-contributed in future years
Understanding TFSAs can help you make informed financial decisions and enhance your savings strategy.