Sun Life Financial today announced plans to offer its customers and group plan sponsors a number of opportunities to take full advantage of the new Tax-Free Savings Account (TFSA). Starting Jan. 1, 2009, any Canadian resident over age 18 can contribute up to $5,000 each year into a TFSA. Interest is earned tax-free and funds […]
But U.S. residents living in Canada may derive a small benefit from tax-free savings accounts
Proposals include minor adjustments to TFSA rules
TFSAs will boost savings modestly, but do little to create much-needed risk capital
Many Canadian employees may soon have the option of contributing to a Tax Free Savings Account (TFSA) at their workplace, according to research conducted by Hewitt Associates, a global human resources services company.Legislation that makes TFSAs available to Canadians as of January 1, 2009 received Royal Assent last week. Any Canadian resident over the age […]
The challenge for advisors is to educate investors on how to use the tax-free savings accounts
Finance minister defends lack of action on capital gains taxes
Institute says new plan will not trigger clawbacks on OAS
Income earned on the savings plan is tax-free