the tax free savings account started in 2016.
the tax free savings account started in 2016.
when did the tax free savings account start?
2016
despite the name, a tfsa does not have to be a cash savings account. like an rrsp, a tfsa may contain cash and/or other investments such as mutual funds, certain stocks, bonds, or guaranteed investment certificates (gics). the cash on hand in a tfsa will collect interest just like a regular savings account, except that the interest will be tax free.









































section::::history.









































the first tax-free savings account was introduced by jim flaherty, then canadian federal minister of finance, in the 2008 federal budget. it came into effect on january 1, 2009.
tax-free savings account (canada)
tax-free savings account (canada)









































the tax-free savings account (tfsa, ) is an account available in canada that provides tax benefits for saving. investment income, including capital gains and dividends, earned in a tfsa is not taxed in most cases, even when withdrawn. contributions to a tfsa are not deductible for income tax purposes, unlike contributions to a registered retirement savings plan (rrsp).
tax-free savings account (canada)