Tax-Free Savings Account (TFSA)
Tax Free Savings Account (TFSA)
A TAX-SMART WAY TO SAVE FOR ANYTHING
What's a TFSA?
A TFSA is a flexible, all-purpose savings option. You pay no taxes on the investment earnings and you can withdraw funds whenever you want. This makes it perfect for short- and long-term goals like emergency funds, big purchases, vacation savings, and more.
TFSA eligibility
If you’re a Canadian resident over age 18 and you have a Social Insurance Number (SIN), you can contribute to a TFSA.
TFSA tax benefits
- You pay no tax on your investment earnings.
- Funds withdrawn from your TFSA don’t count as taxable income.
- You can carry forward your unused contribution room and use it in future years.
Featured investment options
How to maximize your TFSA
$7,000 for 2025
Your 2025 TFSA contribution limit is $7,000 – this doesn’t include any room you carried over from previous years.
$102,000
Your total possible contribution room in 2025 is $102,000 (if you were at least 18 in 2009).*
December 31
You can contribute whenever you want, but contributions count towards the annual limit until the end of the year (December 31).
You can withdraw funds any time
You can take money out of your TFSA any time, for any reason. If you make a withdrawal you can’t contribute that amount back in the same year. In January of the following year, the amount withdrawn will be added back to your contribution room.
Build up your TFSA investments
Your TFSA can hold different types of investments, such as cash, mutual funds, GICs, and more – like stocks and ETFS, in Qtrade. We can help you build an investment portfolio that works for you.
Guaranteed investment certificates (GICs)
GICs keep your principal investment safe and come with a guaranteed rate of return.
Earn a competitive interest rate on your savings with easy access to move funds to other investments.
Make the most of low trading fees and the freedom to buy and sell stocks, bonds, ETFs, and mutual funds with confidence.
Tools and resources
Learn more about TFSAs
Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated.