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Tax Free Savings Account
(8/25/2010) A Tax-Free Savings Account is a new way for residents of Canada to set money aside, tax-free, throughout their lifetimes.
Contributions to a TFSA and the interest on money borrowed to invest in a TFSA are not tax deductible. The income generated in the TFSA is tax-free when withdrawn.
More info: Canada Revenue Agency website
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Quon & Associates and Anchor Accounting Services Limited
Bay 1, 3700 – 19 Street NE, Calgary, Alberta T2E 6V2
phone: (403) 250-5111 fax: (403) 291-0412 e-mail us
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Copyright 1998-2008 Quon & Associates. All Rights Reserved.
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