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TFSA

tax free savings account

Grow Your Savings Without the Tax

A TFSA is a special account that lets you save and invest money without paying any Canadian tax on what you earn in growth. It is one of the best ways to make your money work harder for you.

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2026 LIMITS

Your Tax-Free Savings at a Glance

New Yearly Limit
$ 0

This is the amount you can add to your account this year. If you didn’t use your limit in past years, you can still use it now.

Total Possible Limit
$ 0

The most anyone can have in their account if they have been eligible since 2009.

No Taxes

Keep all the money you make on growth.

Easy Access

Take your money out whenever you need it.

SIMPLE RULES TO HELP YOU SAVE

The Basics

Here are the most important things to know about your TFSA

2026 Limit

$7,000

Total Limit

$109,000

No Expiry

Unused room stays with you

Multiple Accounts

You can have more than one

Withdrawals

Get your room back next year if you withdraw

Rules

Don’t put in too much

Keep all your earnings.

Watch Your Money Grow

When you invest inside a TFSA, you don’t have to share your profits with the government. Everything you earn is yours to keep.

  • Interest you earn is tax-free.
  • Dividends you get are tax-free.
  • Profits from selling investments are tax-free.
  • Taking money out won’t increase your taxes.
  • It won’t affect your government benefits.
A green sprout emerging from coins, demonstrating financial growth and wealth building
It’s not just for cash.

What Can You Put in a TFSA?

You can hold many different types of investments in your TFSA to help your money grow faster.

Stocks & Funds

Invest in companies to grow your wealth over time.

Savings & GICs

Safe ways to save money with a guaranteed return.

Insurance Plans

Special plans that offer both investing and protection.

TFSA vs. Regular Savings

Which one is better for you?

Tax-Free Savings (TFSA)

  • No tax on earnings (keep everything you grow)
  • Can hold stocks, funds, and savings bonds
  • Special rules and limits for adding money

Regular Savings

  • Pay tax on interest earned (included in income)
  • Mostly used for cash deposits & quick access
  • No special rules or yearly contribution limits
Simple answers to help you out

Common Questions

Can I have more than one TFSA?

Yes, but your total limit stays the same no matter how many accounts you have.

No. This is only for people who have been eligible since 2009. If you are new to Canada or younger, your limit will be lower.

Yes, you can usually take your money out whenever you need it, but some investments might have their own rules.

If you take money out, you get that room back on January 1st of the next year.

Yes, you can usually name a partner or family member to take over your account if something happens to you.

It’s best to keep your own records and check with the CRA, but remember that CRA records might take a little time to update.

We’re here to help you save better.

Need a Hand?

Not sure how to get started with your TFSA? Book a free, friendly chat with us to review your goals and help you make a plan.

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