TFSA
Save and invest with complete flexibility — withdrawals are tax-free and contribution room is restored the following year.
What Is a TFSA?
A Tax-Free Savings Account (TFSA) is a registered account available to Canadians aged 18 and older. Unlike an RRSP, contributions are not tax-deductible — but all investment growth and withdrawals are completely tax-free.
Key Features
- Annual contribution limit: Set by the CRA each year (cumulative unused room carries forward)
- Tax-free growth: Investments grow without annual taxation
- Tax-free withdrawals: Withdraw anytime for any reason — no tax consequences
- Room restoration: Amounts withdrawn are added back to your contribution room the following calendar year
- No conversion deadline: Unlike an RRSP, a TFSA has no mandatory conversion age
Who Benefits Most from a TFSA?
- Lower and middle-income earners (where RRSP deductions provide less benefit)
- Anyone who may need flexible access to funds
- Retirees who have converted their RRSP to a RRIF and want continued tax-sheltered growth
- Savers building an emergency fund or short-term goal
What Can You Hold in a TFSA?
Segregated funds, GICs, mutual funds, ETFs, stocks, and bonds — the same eligible investments as an RRSP.
Maria can help you determine whether to prioritize TFSA or RRSP contributions based on your current income and long-term goals.
Why choose an independent broker in Calgary for TFSA?
As an independent broker based in Calgary, Maria Chekmareva works for you—not the financial institutions. By comparing TFSA options from over 15 top Canadian providers, we ensure you get a savings strategy tailored to your specific financial goals, all at no extra cost to you.
Ready to explore TFSA options?
Maria offers free, no-obligation consultations to help you build the right savings strategy.