The Tax-Free Savings Account (TFSA) is an account that provides tax benefits for saving in Canada. Contributions to a TFSA are not deductible for income tax purposes. Investment income, including capital gains and dividends, earned in a TFSA is not taxed, even when withdrawn.
Read more about Tax-Free Savings Account: History, Benefits, How TFSAs Differ From RRSPs, Eligible Investments, Contribution Room, Overcontributions, Similar Accounts in Other Countries, See Also
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“I cannot tell how many times we had to walk on account of falls or rapids. We were expecting all the while that the river would take a final leap and get to smooth water, but there was no improvement this forenoon.”
—Henry David Thoreau (1817–1862)