Our Tax-Free Savings Account Calculator shows you the benefits of investing in a TFSA over a non-tax sheltered investment.
This calculator is simply a tool you can use for illustrative purposes and is not intended to provide investment advice. The applicability and accuracy of the calculations are not guaranteed.
To get a better idea of how your TFSA can help you reach your savings goals, book a Financial Snapshot by contacting one of our branches.
Despite its name, a Tax-Free Savings Account is actually not a savings account. It’s more of an investment account. It’s a vehicle where your investments can grow without having to pay tax on the earnings.
It can be a little bit confusing which is probably why many Canadians are not using their TFSA to its full advantage.