TFSA
Tax-free earnings. Withdrawals anytime you like.
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Savings
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The Tax-Free Savings Account is a registered account to which you can contribute a given amount every year without ever being taxed on your earnings.
It's an excellent short- to medium-term strategy to reach financial goals or to optimize your savings and build a nest egg. The best part, you can withdraw your money as you see fit and never pay a dime in taxes.
Why opt for the TFSA?
Smart, flexible savings that pay off
How does it work?
TFSA: Investing in 4 easy steps
1. It all starts with a plan
One of our advisors helps you map out an investment plan to reach your financial goal, including: investment horizon, the amount and frequency of your contributions, your risk profile and, finally, the right investments for a winning strategy.1
Learn more about risk profiles
2. Add to your TFSA
Follow your contribution plan or add an extra lump sum here and there, as long as you don’t exceed your TFSA contribution limit.
Pro tip: Set up automatic deposits to stay on track hassle-free.
3. Let your money do the work
Your earnings are tax-sheltered, and you benefit from growing income thanks to compound interest.
4. Withdraw whenever you like
The best part about the TFSA is the freedom to withdraw at any time without tax penalties. Simply cash in whenever you’re ready to kick off your project!
The scenario shown here is for demonstration purposes only and should not be relied upon as financial or other advice.2
Beneva, a smart investment
We deliver on performance
Tap into performance-focused investment products.
We invest responsibly
Beneva only works with portfolio managers who are signatories to the UN Principles for Responsible Investment.
We personalize your strategy
We take great care in proposing diversified investments suited to your profile.
We keep your money safe
Sums invested in savings and retirement plans are protected by Assuris. See our information page for full details.
TFSA contribution limits
Every year, the Canada Revenue Agency sets a TFSA contribution limit. It carries over from year to year and adds up to establish cumulative contribution room.
$7,000
Maximum amount for 2024
$95,000
Cumulative maximum amount
Think of the TFSA as an empty box. How you fill it is up to you!
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