What is a TFSA?
A Tax Free Savings Account (TFSA) is an investment that lets you earn interest on your money without having to pay tax on that interest, letting you make the most out of every dollar earned. There are annual contribution limits, but unused contribution room can be carried forward. You can make withdrawals from your TFSA at anytime, without tax consequences and the amount you withdraw can be reinvested the next calendar year. So you can save for that big trip, then start saving for your next goal.