Imagine…the government is going to let you keep the interest you make on your savings.
Equity Credit Union is now offering it’s members a Tax Free Savings Account (TFSA). With this account, you will not pay taxes on your savings….so you save twice!
Click here to view todays TFSA rates
Basic Facts on TFSA
- Canadian residents, age 18+, can deposit up to $10,000/yr
- Income earned will be tax sheltered
- Although contributions will not be tax deductible, withdrawal of contributions and/or income will not be subject to tax
- Unused contribution room may be carried forward
- Withdrawals increase the unused contribution room in the following year
- Withdrawals will not affect eligibility for federal tax credits and benefits
Equity CU is ready to help you make the most of the TFSA. Contact our knowledgeable and friendly staff about setting up your TFSA.
In addition, each individual TFSA is insured up to $100,000 per contract.