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Everyone's financial goals are different. We’ve got you covered with a range of accounts for all your financial needs link to personal/accounts
A Tax Free Savings Account (TFSA) is a registered savings account that helps you grow your money quickly because you don’t pay taxes on the interest or investment income you earn.
The contribution room for 2021 is $6,000.
A TFSA is tax-free, so your earnings are tax sheltered.
Unlike a Registered Retirement Savings Plan (RRSP), you don’t have to close your TFSA at a set age.
Use it for short and long-term savings goals - you don’t have to repay a TFSA withdrawal.
You can re-contribute the amount you’ve withdrawn next year or later.
Unused contribution room can be carried to future years.
Funds in a TFSA can be invested in term deposits, mutual funds and stocks.
Contributions to your RRSP can increase your tax deduction and provide you with continuous tax free earnings on your savings.
RRIF payments will supplement your income during retirement.
Save for your children's education through this government approved plan.
This program allows eligible RESP beneficiaries to receive grant monies based on their annual contribution paid into the plan. The government will contribute 20% annually for the first $2,000 deposited into an RESP for children to the end of the year the child turns 17.
With the Canada Education Savings Grant, the Governement can add as much as $7,200 to your plan.
Visit the Government of Canada to learn more.
RESPs are tax-free, so your earnings are tax sheltered.
Contact our Deposit Services Department today!