Please accept the terms and conditions before continuing:
CANADIAN INSTITUTIONAL INVESTORS ONLY
THIS SITE IS INTENDED FOR CANADIAN INSTITUTIONAL INVESTORS ONLY. IT IS NOT INTENDED FOR THE GENERAL PUBLIC OR FOR INVESTORS THAT DO NOT RESIDE IN CANADA BY ACCEPTING THIS TERMS OF USE AGREEMENT, YOU CONFIRM THAT YOU ARE ENTITLED, UNDER THE SECURITIES LEGISLATION OF YOUR PROVINCE OF RESIDENCE, TO PURCHASE SECURITIES WITHOUT THE BENEFIT OF A PROSPECTUS BECAUSE YOU ARE (I) AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF NATIONAL INSTRUMENT 45-106 PROSPECTUS AND REGISTRATION EXEMPTIONSAND/OR (II) A “PERMITTED CLIENT” WITHIN THE MEANING OF NATIONAL INSTRUMENT 31-103 REGISTRATION REQUIREMENTS, EXEMPTIONS AND ONGOING REGISTRANT OBLIGATIONS.
If you are a Canadian resident and seek information on products and services available to the general public, please visit the Franklin Templeton public website at franklintempleton.ca. If you do not reside in Canada, please visit our international websites link for assistance with products and services legally available in your place of residence.
Nothing on this Site shall be considered a solicitation to buy or an offer to sell a security, or any other product or service, to any person in any jurisdiction where such solicitation, offer, purchase or sale would be unlawful under the laws of that jurisdiction.
Please read the Terms of Use Agreement and indicate your acceptance.
CanadaTax-Free Savings Account
Invest today and never pay tax.
Contribute as much as $6,000 every year
The annual contribution limit has changed a few times since TFSAs were launched in 2009. This year’s limit is $6,000. And thanks to the lifetime carry-forward room, new TFSA investors may be able to contribute as much as $75,500 in 2021.
Best of all: any growth in the value of TFSA investments is tax-free. You won’t be taxed while your savings grow and you won’t be taxed when you withdraw.
Benefits
- Withdrawals are tax-free.
- Unused contribution room accumulates and can be used in subsequent years.
- TFSA assets can be used as collateral for a loan.
- Withdrawals don’t affect eligibility for such benefits as Old Age Security, Guaranteed Income Supplement or the Child Tax Benefit.
TFSA carry-forward rule
Every year, you can contribute up to the TFSA dollar limit for the year PLUS any previous unused contribution room AND the amount you withdrew last year. It’s a long sentence, but a simple rule. Here’s an example:
Let’s say you’ve maximized your TFSA contributions every year and last year you withdrew $2,000 to help pay for a vacation. This year, you can contribute $6,000 PLUS the $2,000 you withdrew last year, for a total of $8,000.
Start today
Saving for a rainy-day? A special event? Or looking to complement your retirement savings? Whatever your goal, get there faster with a Franklin Templeton TFSA. Talk to your advisor or call us at (800) 387-0830.
