Tax-free money does exist, if you know where to look.

The simple truth is that money accumulates over time. It does not get handed to you, despite what you may see on TV. For many of us, it is not about windfalls or lottery tickets, it’s about being committed
to investing over the long-term.

A powerful savings tool during your working years
When you invest in a TFSA, did you know:

You are never taxed on the growth you earn.
You are not taxed when you make a withdrawal.
If you are at least 18 years old, you earn new contribution room every year.
Contribution room is cumulative, you can make extra deposits if you have not maxed out in previous years
If you make a withdrawal, your contribution room is regained the following year

A powerful savings ally during your retirement years
At retirement, many Canadians rely on income from a pension plan or Retirement Savings Plan (RSP). An alternative source of tax-free income like a TFSA can also be beneficial. A TFSA allows you to draw income when you need it.

When using a TFSA in retirement, did you know:

Withdrawals from a TFSA do not affect your eligibility to receive Old Age Security, Guaranteed Income Supplement, Goods.
and Services Tax/Harmonized Sales Tax credit or other income-tested benefits and tax credits.
Unlike an RSP, a TFSA does not need to be converted to an income product at age 71.
Your estate is not burdened with a hefty tax bill upon your death, often the case with an RSP.