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TFSA – Tax-Free Savings Account Mississauga
After the RRSP, the TFSA is, no doubt, the most favorable savings deal made by the Canadian government to promote individual savings. It is even more adaptable than the RRSPs as it permits you to invest your money on a duty free premise, which can be utilized for buying a house, a car, an excursion or on any other wish.
Characteristics and Advantages of a TFSA:
- You can contribute as much as possible without any limits on your income. This sum was $5,500 in 2013 and 2014, keeping inflation in the consideration. With effect from January 1, 2015, the yearly TFSA commitment limit is set to $10,000. Moreover, you are allowed to carry forward any unused commitment sums into future years.
- Your reserve funds grow tax free as there is no contribution amount and your income is set tax free in this scheme.
- You are allowed to withdraw any sum of money without any restrictions and penalties.
- You can save even if you have reached the maximum RRSP contribution limit.
Why Choose a TFSA From Ace Group?
Ace Financial Group allows you to invest wisely in TFSA. We highly recommend it to those who do not want to take any risk and want to achieve the most out of their savings plan. Furthermore, it offers you an opportunity to consider the following investment funds:
- Guaranteed interest funds
- Daily interest funds
- Segregated funds
- Mutual funds
Ace Group Mississauga TFSA Advantage
At Ace Group Mississauga, we offer an investment shield which acts to serve in your best savings interests. We also offer a lucrative interest rate, so that you leave all your savings worries aside. Contact our experienced financial advisor to know more about Tax-Free Savings Account.