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Almost a quarter of survey respondents think TFSAs will reduce their taxable income

  • By: IE Staff
  • January 27, 2020 January 27, 2020
  • 11:31
Businesswoman using laptop in office

A report suggests the feds could make TFSAs even more useful

Senior man in driver's seat of car

A report recommends changes to improve TFSAs for retirement savers and retirees

Two-thirds of Canadians currently hold a Tax-Free Savings Account

Average unused TFSA contribution room in 2017 was $30,947

Hard work ensures success. Concentrated young African women working on laptop while sitting at working place

Canadians are advised to keep track of their TFSA withdrawals and contributions themselves

tax calculator with red button

Contribution room accumulates beginning in the year in which a person turns 18

keyboard with hot key for estate planning

In general, there are three potential outcomes when a TFSA accountholder dies, depending on the preparations made

  • By: Leah Golob
  • November 1, 2019 November 6, 2019
  • 00:14
Female tax inspector looking at corporate financial documents with magnifying glass

Investors who may have overcontributed to their TFSAs face harsh penalty tax

The poll also finds that more than one-third of Canadians aren't saving for either type of goal

  • By: IE Staff
  • August 28, 2019 October 31, 2019
  • 10:44