Here’s the deal, you can stash away up to $5,000 per year, invest in any of the most popular and accessible vehicles and your returns are tax free. Sounds good, right? But more than half of Canadians have not taken advantage of the TFSA, according to a survey commissioned by ING DIRECT. Even among those […]
Nearly two years after it was first made available, the tax free savings account (TFSA) continues to confuse many Canadians, according to a survey conducted for the Bank of Montreal. Only 20% of respondents knew that mutual funds could be held within a TFSA, while just 26% were aware they could hold a GIC in […]
Over half of Canadians don’t have a tax-free savings account (TFSA), according to a recent online poll from Angus Reid Public Opinion commissioned by ING Direct. TFSAs allow Canadians to put away $5,000 a year without taxation and they came into effect in 2009. More than half (52%) of those who haven’t opened an […]
Weighing in on group TFSAs June 17, 2010 | Michael Campbell While individual tax-free savings accounts (TFSAs) are growing in popularity among investors, there’s still a gap to fill in the group retirement savings plan market. In 2009, the plan sponsors that typically added the TFSA to their group retirement programs already offered a non-registered […]
Heralded by the federal government as “the most important tax innovation in a generation,” the tax-free savings account (TFSA) will quickly become established as a financial must-have for most Canadians. But will it fit with your group retirement plan?
In its last budget, the federal government introduced the tax-free savings account (TFSA), a completely new tax-sheltered investment vehicle. Although presented more in the context of an individual product, it is expected that most administration providers of capital accumulation plans will rapidly add a group TFSA to their product line-up in 2009.