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Search for an ETF or holding
Updated 2mo ago.
Updated 2mo ago.
The TFSA is a Canadian registered account where investment income (interest, dividends, capital gains) is completely tax-sheltered. Withdrawals can be made at any time without paying tax, and any contribution room withdrawn is regained the following year.
In 2024, the annual TFSA contribution limit is $7,000. If you've never contributed since 2009 (when the TFSA was created), you could have up to $95,000 in accumulated room. By holding VEQT.TO or XEQT.TO inside it, all your gains and dividends are 100% tax-free.
The TFSA is the #1 tool for most Canadians. Unlike the RRSP, you don't need earned income to contribute, and withdrawals don't increase your taxable income. Ideal for short- and medium-term goals, or as a complement to your RRSP for retirement.