Tax-free Savings Accounts

About this book

This may be of the most important little investment book you'll ever read! Financial expert Gordon Pape explains the new Tax-Free Savings Account (TFSA)—the powerful new personal savings vehicle for Canadians – and provides a range of strategies that you can use to add thousands of tax-exempt dollars to your personal wealth.As of January, 2009, everyone 18 and older can contribute to a TFSA and start building your tax-free investments. This indispensible primer will help you get started on meeting your financial goals with the most valuable new savings program since the introduction of RRSPs more than 50 years ago. Pape clearly explains everything you need to know about Tax-Free Savings Accounts including:• The advantages of a TFSA• Contribution rules and limits• The best investments for a TFSA• TFSAs or RRSPs?• Withdrawing money from a TFSA• Using TFSAs for income splitting• Tips to maximize tax savings• How TFSAs can benefit retirees