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A Tax-Free Savings Account (TFSA) is a government program that allows tax-free savings to those 18 or over with a valid social insurance number. You won’t get taxed on the interest made on your investment, even when it’s withdrawn. Contributions aren’t tax-deductible for income tax purposes.
Unused TFSA contribution room can be carried forward to future years. For 2018, the maximum amount you can contribute is $5,500*. Any contributions beyond your contribution room can be subject to tax.
Your TFSA account can hold any type of investment product like the ones listed below. And since how you invest is just as important as how much you invest, our skilled planning team is here to help understand your individual needs and goals so you have the right portfolio mix.
Coast Capital Savings Federal Credit Union provides advice and service related to deposit, loan and mortgage products. Coast Capital Wealth Management Ltd. provides investment and financial planning services. Coast Capital Financial Management Ltd. provides advice and service related to segregated funds, annuities and life insurance products. Worldsource Financial Management Inc. provides advice and service relating to mutual funds. Mutual fund values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses may all be related with mutual fund investments. Important information about mutual funds is contained in the relevant fund facts and simplified prospectus. Please read the fund facts carefully before investing. Only deposits held in Canadian currency, having a term of five years or less and payable in Canada are eligible to be insured under the Canada Deposit Insurance Corporation Act.
The Low-fee, More-for-me Mutual Funds® are managed by SEI Investments Canada Company. Worldsource Financial Management provides mutual funds and services. Mutual fund values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses all may be related with mutual fund investments. Please read the Fund Facts carefully before investing.
* Government of Canada. Indexation adjustment for personal income tax and benefit amounts. https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/adjustment-personal-income-tax-benefit-amounts.html
Coast Capital Savings Federal Credit Union is a member of the CDIC. For information on changes to deposit insurance and the transition period, see our Statement of Transitional Coverage.