TFSA (Tax-Free Savings Account)

You can think of a TFSA like a basket, where you can hold qualified investments that may generate interest, capital gains, and dividends, tax-free. Once you’ve opened a TFSA, you can contribute to the account at any time, and earn interest or returns, tax-free — unlike a non-registered savings account.

Your TFSA can hold a variety of income-generating investments, including cash (like a savings account), mutual funds, stocks, bonds, and GICs. The types of investments you can add to the TFSA can vary, depending on your reasons for investing and your risk appetite.

When you contribute to a TFSA, it's important to be mindful of the TFSA contribution limit – the maximum amount that you can contribute to a TFSA in any given year. The annual TFSA contribution limit for 2023 is $6,500 and you can carry forward unused contribution room from previous years.

• Gives you access to certain mutual funds offered through TD Investment Services Inc.
• Benefit from professionally managed mutual fund investments
• Flexible savings options through a Pre-Authorized Purchase Plan

Great for: Investors comfortable with some risk.

• Gives you the option of investing in GIC’s while maintaining a High-Interest TFSA Savings Account
• Access to competitive interest rates to grow your savings tax-free
• Benefit from predictable returns

Great for: Investors seeking reliable growth.

• Fully protects your principal, with the option to choose from fixed-rate or Market Growth GICs
• Access to a variety of GICs with different terms and features
• Earn a guaranteed rate of interest

Great for: Investors who don't want to risk their principal.

• Self-directed accounts
• Power to select your investments and take advantage of market opportunities in Canada and the US.
• Flexibility to hold a range of investment products in one account

Great for: Investors looking to manage their investment strategy and portfolio.