Make the most of your TFSA: Top 10 Benefits

We remind you that your TFSA contribution limit is $7,000 beginning January 1, 2026.

The Tax-Free Savings Account provides many benefits to Canadians over 18.

Top 10 TFSA benefits:

1. Tax-free growth
2. Tax-free withdrawals
3. No age limit for contributing once over 18
4. Carry forward contribution room
5. A wide range of investment choices
6. Freedom to withdraw funds at any time
7. Ability to replace funds withdrawn – must be done the following year to maintain your contribution room
8. Withdrawals from TFSAs does not impact government benefits
9. TFSAs pass to a spouse if named as “successor holder” without the probate process or tax
10. TFSAs pass to “named beneficiaries” without the probate process or tax 

TFSAs are very versatile and are effective savings vehicles and estate planning tools! 

This link to Fidelity’s website provides more information on TFSAs. 

If you would like to discuss making the most of your TFSA, please reach out to our team!