Tax-Free Savings Account (TFSA)
Ideal for those with significant savings goals on a shorter timeline. Withdraw funds anytime, completely tax-free.
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A flexible way to save for anything
Enjoy tax-free growth
With a TFSA, all investment gains are completely tax-free, letting you keep every dollar you earn.
Access your funds anytime
Withdraw from your TFSA whenever you need to, hassle-free. The withdrawn amount is added back to your contribution room the following year.
Save without limitations
Whether it’s for a home, education, or any major life expense, your TFSA offers complete flexibility with no restrictions on how you use your funds.
Understanding the TFSA
Who should consider an TFSA?
A TFSA could be a great choice if you have savings goals that might require accessing your funds before retirement.
Even for retirement savings, a TFSA can make sense, particularly if your annual income is less than $50,000.
Keep in mind, TFSAs are individual accounts, meaning there are no joint or spousal TFSAs.
$95,000
The total lifetime contribution room, assuming you were 18 or older in 2009. This amount grows annually as new limits are introduced.
$7,000
The yearly contribution limit for 2024, set by the government.
Unlimited carry-over
Any unused contribution room rolls over to the next year indefinitely. For 2024, you can contribute $7,000 plus any unused room from previous years.
18+
The minimum age to open a TFSA. Unlike other accounts, a TFSA doesn’t require conversion at any age, giving you flexibility throughout your life.
How to invest with an TFSA
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Tailored portfolios for your goals
With Managed investing, we take care of everything. Share your financial goals and timeline, and we’ll create a custom portfolio that’s diversified across the market to meet your needs.
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Full control with self-directed investing
A Self-directed account puts you in charge. Trade over 9,000 stocks and ETFs commission-free, automate your investments, and start trading instantly with deposits of up to $750,000 for Prime clients.
Simple and flexible tax-free saving
Start investing in minutes
Open your account quickly and hassle-free — no bank appointments or paperwork needed. Contributions and withdrawals are just a few taps away.
Get real support anytime
Have questions about your TFSA? Our friendly team is available 5 days a week via phone, chat, or email to assist you.
Keep more of what you earn
Whether you prefer self-directed investing or having us manage your portfolio, our low fees ensure that more of your returns stay in your pocket.
Switch your TFSA without extra costs
Move your TFSA to Highgate Trading and we’ll reimburse the transfer-out fees charged by your current brokerage when you transfer $15,000 or more. It’s seamless, quick, and hassle-free.
Contact our teamGet the most from your investments
Navigate market ups and downs confidently with a diversified portfolio, customized to align with your personal values and financial objectives.
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