Tax Free Savings Plan, TFSP, Vancouver, British Columbia

Tax Free Savings Plan (TFSA)

Happy New Year! The government last year tabled the Tax Free Savings Plan (TFSA) for all Canadians effective January 1, 2009. Below the features for your reference:

Any individual who is at least 18 years old, has a valid SIN can contribute to the Tax Free Savings Plan (TFSA)
For 2009, the limit is $5,000 per individual. After 2009, $5,000 and indexed to inflation
Can be withdrawn at anytime with no tax consequences (even gains/income are not taxed).

Unlike an RSP where you can deduct the contribution amount from your taxable income on year of contribution, there is no deduction(s) allowed for the TFSA. If you want to open a Tax Free Savings Plan (TFSA) or need more information, please give me a call. Please view the publications RC4466 Tax-Free Savings Account (TFSA) - Information Sheet on the Canada Revenue Agency (CRA) website for more information.

Learn more about these services: Financial Planning, Retirement Planning, Investment Planning, Estate and Tax Planning, Life Insurance, RESP

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Please note: Ms. Mimi Tang, offers financial planning and insurance services as an independent representative, under Mimi Tang Wealth Management and Consulting LTD. and these services are offered independently of PEAK Securities.

PEAK Securities inc., an IDA registered, full service investment broker, limits its responsibility to investment products such as stocks, bonds, and mutual funds. PEAK Securities inc. is a member of the Canadian Investor Protection Fund.

Call Mimi Tang at (604) 926-8068 or email mtang@peakgroup.com
for financial planning in Vancouver, British Columbia, Canada.