Today we are talking about Tax Free Savings Accounts (TFSA). As a guide, we go out and do the research, and bring the information to you in a way you can understand.
The TFSA is the structure, a place to hold money tax free. This type of account started in 2009, and an initial contribution was $5,000. Each year there is a TFSA contribution limit. The contribution room can be carried forward.
There are, of course, rules about limits that can be contributed.
It is always best to speak to a professional before making financial decisions.