Friday, January 23, 2009

Save Money

Working as a teller in a bank, I've noticed that most people are not aware of the new Tax Free Savings Account, being offered to Canadians. You should take advantage of this!

Benefits include:
  • Pay no tax on investment growth earned in the account

  • Withdraw your money at any time and pay no tax on withdraws

  • Contribute up to $5,000 per year

  • It's FREE

This type of account gives you the opportunity to save, while paying no tax on investment income or growth. It is ideal for short- and long-term savings, and withdraws are easily accessible as well as tax free. Any unused contribution room is carried forward to the following year, at your convenience. Amounts withdrawn can be re-contributed starting the next year. Visit your bank (cough, TD, cough) for more information on how you can open this new Tax Free Savings Account!


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