Noun
TFSA (plural TFSAs)
(Canada, finance) Initialism of tax-free savings account
Coordinate terms: (similar accounts) FHSA, RRSP, RESP, RRIF
Coordinate term: (equivalents) TESSA
TFSA Market Crash: How to Recover in 2020 if You Lost MoneyInvest in the Canadian National Railway stock to recover from the losses to your TFSA during this market crash. Source: Internet
Is a contribution to an RRSP or a TFSA best if I'm retired? Source: Internet
First, because of their limited contribution room and relatively young age (TFSA have only been around since 2009), TFSAs are often relatively small compared with RRSPs. Source: Internet
But keep in mind that you can open more than one TFSA, with more than one financial institution. Source: Internet
Loeppky said the TFSA remains an effective tool for investing tax-free, but the amount you will be able to shelter will be less. Source: Internet
You can put your after-tax RRSP proceeds into a tax-free savings account (TFSA), but the contribution limits are fairly low. Source: Internet