What is a Tax Free Savings Account?

A Tax-Free Savings Account (TFSA) is a registered investment option that offers unmatched liquidity to grow your savings tax-free for any goal, provided assets are Qualified Investments under the Canadian Income Tax Act. At CG Wealth Management, our full-service brokerage expertise crafts a professionally built portfolio of qualified investments to help you Plan to Prosper with flexible, tax-free growth.

  • The TFSA contribution limit for 2026 is $7,000, with a lifetime limit of $109,000 since it began in 2009, adjusted by your age and past eligibility as set by the Canada Revenue Agency (CRA). Once a Canadian resident turns 18 they begin to earn contribution room.

  • You can find your available TFSA contribution room on your CRA My Account online. Our client’s have the option to make us a CRA representative to look on their behalf.

  • Choosing between a TFSA and RRSP depends on your current income, future goals, and potential employment benefits. TFSAs grow tax-free, while RRSPs offer immediate tax relief. Our experts at CG Wealth Management can speak with you to discover the best fit!

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