Scotiabank Tax Free Savings Account
The Scotiabank Tax Free Savings Account (TFSA) is a great way to save. All the income (interest, dividends, and capital gains) earned in your Scotiabank TFSA are tax-free for life. Add those savings towards your goals to help you achieve them sooner. Open an account today and start your savings plan.
Here are the results of the Scotiabank Tax Free Savings Account Tool. See how a TFSA can work for you.
Your savings plan
Taxable Investment VS TFSA Growth
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Scotiabank Tax Free Savings Account
About this calculator
The Scotiabank TFSA Calculator is for illustrative purposes only.
Annual income entered is used to estimate your personal tax rate. Your actual tax rate may be different.
The Scotiabank TFSA Calculator provides a comparison of future values of taxable investments in a non-registered account versus those same investments in a TFSA, and indicates potential total tax savings. The future value of the investment is based on the amount invested, the term of the investment, the rate of return selected and the estimated tax rate applicable to the investor.
All contributions are assumed to be made at the beginning of the period. (e.g. the first of the month or the beginning of the year.)
The information provided here is for demonstration purposes only and is not a substitute for professional advice. Before making investment decisions, you are advised to speak with your legal and/or tax advisors.
Actual tax savings may vary depending on your individual situation.
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