Glossary
TFSA
A Tax-Free Savings Account lets your investments grow and come back out completely tax-free. Unlike an RRSP, contributions are not deductible, but in exchange neither the growth nor the withdrawals are ever taxed, and money you take out is added back to your contribution room the next calendar year. That flexibility makes it useful for both short-term goals and long-term saving. Check how much you can put in with our TFSA contribution room calculator.
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