A Tax-Free Savings Account (TFSA) can help you grow your savings faster than an ordinary savings account.
TFSA details at a glance
• No taxes payable on investment income and growth even at withdrawal
• Contribution limit of $5,500 per year, with unused room carried forward to future years.
• Can hold a wide variety of investments, including all Fidelity products.
• Withdrawals do not count as income, and will not trigger government benefit clawbacks or affect tax credits.
• Withdrawals can be recontribute in future years.