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Reach your goals faster with a TFSA.
A Tax-Free Savings Account (TFSA) will help you save money for short and long-term goals. Because it’s tax-free, you pay no taxes on the interest or investment income earned.
The contribution room for 2024 is $7,000.
The cumulative deposit total for 2024 is $90,000.
Enjoy the benefits of a TFSA
- Grow your money – Because your TFSA is tax-free, your earnings will be tax sheltered.
- No age limit – Unlike the RRSP, you can contribute to your TFSA for as long as you’d like.
- Use it for short and long-term goals – You don’t have to repay a TFSA withdrawal.
- Carry over withdrawals – Any withdrawal you make adds extra contribution room the following year.
- Unused contribution room can be carried to future years.
- It can hold a number of investments – Term deposits, mutual funds and stocks included.
Ready to put the power of investing to work for you?
Speak to our helpful advisor today.
Whether you're saving for retirement, a new car or a dream vacation, our experienced team will tailor their advice to help you maximize your savings to get there.
Our TFSA Calculator will help you figure out how much you could save for your life goals when you invest in a Tax-Free Savings Account.
Get in touch with us!
We look forward to connecting with you.
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© Saskatoon City Employees Credit Union. All rights reserved.
© Saskatoon City Employees Credit Union. All rights reserved.