http://www.taxfreesavingscanada.ca The Canadian government has introduced a new way to save, called the Tax Free Savings Account, or TFSA. It allows Canadian citizens of legal age to open a Tax Free Account, and contribute up to $5000 annually. These savings can grow tax free for life, and there is no penalty for withdrawing funds at any time. Where an RRSP is for retirement, the TFSA is for everything else in your life!
No it won't. The account can be transferred tax free as long as it's your spouse (not some bimbo down the street) and as long as the proper paperwork is in place before death signifying the transfer. Do some reading.
88guilly88 2 years ago
Yeah they dont bother to mention that if your spouse dies(and the account isn't in your name) but the spouse gives it to you in a will....this TFSA will be taxed in the surviving spouse hands 0_0 I read through it ...im not stupid...HARPER must truely believe we are all stupid or something .... 0_o
BeautifulNative25 2 years ago