TFSA - Tax Free Savings Account

The Tax-Free Savings Account (TFSA) is a saving/investment account that can hold any combination of eligible investment, such as cash, stocks, bonds, GICs and mutual funds.

Contributions to TFSA are not deductible for income tax purposes; however, amount contributed as well as any income earned in the account (such as interest income and capital gains) is tax-free, even when it is withdrawn.

Administrative or other fees in relation to TFSA and any interest or money borrowed to contribute to a TFSA are not deductible.

0 views0 comments

Recent Posts

See All

EZ CLoud Accounting

Chartered Professional Accountant

Email :

Phone:    604-338-6880

Address​​​​​​: 105, 1661 Fraser Ave.

              Port Coquitlam BC  V3B 0B6

Contact Us
  • Instagram