TFSA Investment

DESCRIPTION

What is TFSA?

A Tax-Free Savings Account (TFSA) is a registered savings account that allows Canadians to grow their money without paying taxes on investment income or withdrawals. While contributions are not tax-deductible, all earnings—including interest, dividends, and capital gains—are completely tax-free. TFSAs provide flexibility, accessibility, and long-term potential, making them a powerful tool for a wide variety of financial goals.

FEATURES

Why Should You Invest In TFSA?

Tax-Free Growth

All investment income and withdrawals are completely tax-free.

Investment Flexibility

Choose from savings accounts, stocks, bonds, ETFs, and more.

Easy Accessibility

Withdraw funds at any time without penalties or tax consequences.

Available to All Adults

Anyone 18 or older with a valid SIN can open a TFSA.

Wealth Building

Contributions and growth compound over time to maximize savings.

Contribution Room Carries Over

Unused room accumulates, so you never lose the chance to save.

OVERVIEW

Contributions

Deadlines

Tax Benefits

Investments

Withdrawal

Annual contribution limits are set by the government and can change yearly.
Unused contribution room carries forward indefinitely.
Over-contributing leads to a monthly penalty tax of 1% on the excess amount.
Contributions are not tax-deductible, unlike RRSPs.

TFSA contributions can be made anytime during the year.
No fixed annual deadline (unlike RRSP’s March deadline).
Unused room rolls over automatically to future years.
Room also increases by the annual limit on January 1 each year.

All investment income (interest, dividends, capital gains) grows tax-free.
Withdrawals are also tax-free, regardless of amount or purpose.
Contribution room is restored the year after a withdrawal.
No impact on government benefits such as OAS or GIS.

TFSAs can hold cash, GICs, mutual funds, ETFs, stocks, and bonds.
Wide range of investment options provides flexibility for all goals.
Diversification inside the TFSA can maximize growth potential.
Professional guidance can help match investments to your risk tolerance.

Withdraw money at any time, for any reason, without taxes.
Contributions can be re-deposited, but only in the following calendar year.
Withdrawals do not affect eligibility for government benefits.
Ideal for both short-term savings goals and long-term wealth building.

Why Choose Value Insurance?

Customers should choose Value Insurance because we make getting the right coverage simple, affordable, and stress-free. Founded by Amit Shahi, our Canada-based team goes above and beyond to tailor insurance solutions that fit your unique needs, ensuring you never pay more than necessary. With access to a wide network of top-rated providers, we deliver the best rates and options available—without the confusing jargon or hidden fees. Our friendly experts guide you every step of the way, giving you confidence and peace of mind that your protection is secure. At Value Insurance, your satisfaction isn’t just a goal—it’s our promise.

FAQ

Questions

The government sets an annual limit (e.g., $6,500 for 2023), and any unused room carries forward indefinitely.

No, both your original contributions and any investment growth can be withdrawn tax-free.

You’ll be charged a 1% penalty per month on the excess contribution until it’s withdrawn.

Yes, but only starting the following calendar year when your contribution room resets.