The government of Canada in the year 2008 introduced a TFSA, also known as a tax-free savings account. It was introduced as a brand new vehicle for personal savings, enabling you to save for various purposes, needs throughout your lifetime, and makes you financially independent. Since the introduction of the RRSP, back in the year 1957, the TFSA can be considered as the most important vehicle for personal savings that Canadians have access to.
After the recent regulations passed as of 2nd January 2009, you can start contributing to a TFSA, capable of holding various combinations of eligible vehicles of investment. These may range from bonds, cash, stock, mutual funds and GIC. The growth of these investment vehicles are all tax-sheltered while in your TFSA.
However, there are numerous legal points that you need to consider while opening a TFSA and only a professional can help you ease through the process. We at Best Capital Bonds are experts in the field and with our many years of experience can help you achieve your investment and savings goals with great precision. Contact us today to know more about how we can help and the lucrative guarantees that we provide.