TFSA Contribution Deadline
Unlike RRSPs, there is no deadline for contributing to a TFSA. You can contribute at any time of the year.
What exactly is a TFSA?
The TFSA allows you to save tax-free for various projects, such as renovations, buying a car, or starting a business, as well as for unexpected expenses.
Its flexibility makes it an excellent choice for those looking to invest for the long term. You can withdraw funds at any time, without a tax penalty.
For details on contribution and withdrawal limits, consult your Financial Advisor.
Maximize your savings with a TSFA!
- Watch your money grow—completely tax-free, for life.
- Carry forward unused contribution room and make the most of every dollar.
- Enjoy the freedom to withdraw funds anytime, tax-free, for planned projects or unexpected expenses.
- Keep your RRSP limit intact, TFSA contributions won’t affect it.
Discover how to get the most out of your TFSA—reach out to your Advisor today!
You must be at least 18 years old (depending on your province of residence) to open a TFSA.
There is no age limit for contributions. You can keep growing your savings tax-free even after 65!
There’s an annual contribution limit for your TFSA. In 2025, it’s $7,000, though this amount may change. If you don’t contribute the full limit, any unused space can be carried forward to future years.
What's the difference between a TFSA and an RRSP?
While the TFSA doesn't provide an immediate tax deduction, both your earnings and withdrawals are tax-free. Meanwhile, RRSPs offer an immediate tax break, but withdrawals are taxed.
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