Tax Free Savings Account (TFSA) FAQ

What is a Tax Free Savings Account?

What are the benefits of a TFSA?

How much money can I contribute to my TFSA?

What happens if I over contribute to a TFSA?

How will a TFSA work for me?

What types of investments can I hold in my TFSA?

How is a TFSA different from an RRSP?

Can I withdraw money from my TFSA?

What happens to my TFSA if I die?

How will I know what my TFSA contribution room is for a given tax year?

Can I contribute to my spouse's TFSA?

Would the income earned in my spouse's account be attributed back to me?

Can TFSA assets be used as security for a loan?

Can a non-resident of Canada open a TFSA?

If I become a non-resident while I have a TFSA can I still
make contributions?

I've already opened a TFSA. How do I make a contribution online?

What Account types are permitted with for a TFSA?

Can I use borrowed funds to contribute to the TFSA?

What happens to the TFSA assets in the event of a marriage breakdown?

Do I have Canada Deposit Insurance Corporation (CDIC) insurance
on the investments held within the TFSA?