Contact one of our branches.

HEAD OFFICE 

208-73 N. Cumberland Street

Thunder Bay, Ontario

P7A 4L8

Phone:  (807)286-5341

Fax:  (807)286-5342

Email:  geoff@blueharbourfinancial.com

Open Monday to Friday

By appointment only Saturday and Sunday

ALBERTA

206 Pembina Road

Sherwood Park, Alberta,

T8H 0L8

Phone:  (587)785-9559

Fax:  (807)286-5342

Email:  ryley.hughes@cartewm.com

BRITISH COLUMBIA ​

3172 Golden Link Crescent

Vancouver, British Columbia

V5S 4M3

Phone:  (604)437-3600

Fax:  (778)371-9078

Cell:  (604)782-4334

Email:  wayne.canary@cartewm.com

ONTARIO

Fortax Corp.

2 St. Clair Ave. West, 18th Floor

Toronto, Ontario

M4V 1L5

Phone:  (416)220-6428

Email:  michael.fortin@cartewm.com

TAX FREE SAVINGS ACCOUNT (TFSA)

TAX FREE SAVINGS ACCOUNTS enable investors to grow their savings tax-sheltered regardless of what their savings goal is. Next year’s vacation. A new car. House renovations. Or just a rainy day. Your contributions are not tax-deductible (which means you’re putting in “after-tax dollars”) – it also means that any growth in the plan is tax-sheltered and any withdrawals are tax-free. In other words, the growth and withdrawals are not subject to any tax.

BENEFITS OF A TAX FREE SAVINGS ACCOUNT (TFSA)

  • The opportunity to earn investment income, tax-free – Any interest, capital gains or dividend income you earn within the account is not subject to tax

  • The flexibility to withdraw your savings, tax-free – At any time and for any purpose you choose

  • The ability to contribute to a spouse’s TFSA – Remember, your total contribution to any account cannot exceed the maximum allowed

  • A wide range of investment options for enhanced flexibility – Including mutual funds, guaranteed investment certificates (GICs), stocks, bonds and cash

  • No impact to your government benefits – No income you receive or withdrawals you make from a TFSA will affect your eligibility to receive income-tested benefits such as the Guaranteed Income Supplement, Canada Child Tax Benefit or Old Age Security benefits

The Basics

Eligibility 

  • Anyone 18 years of age and over who is a resident of Canada can open a TFSA

  • A valid Social Insurance Number is required to open an account

  • You do not need to have earned income or file an income tax and/or benefit return

Contributions

  • Unused contribution room can be carried forward to future years

  • Any amount withdrawn from a TFSA can be re-contributed in future years without reducing contribution room

  • Spouses (and common-law partners) can give each other money to contribute to their own TFSA as long as it is within the maximum allowed. TFSA assets can be transferred to a spouse tax-free upon death

Withdrawals

  • No tax will be withheld

  • Funds may be withdrawn for any purpose

  • No limit on the amount of each withdrawal

 Tax features

  • Account is funded with after-tax dollars

  • Earnings growth in plan is tax-sheltered

  • Withdrawals from the account remain tax-free

CONTACT A TFSA SPECIALIST