Do you have a Tax-Free Savings Account (TFSA)? An extra $500 has been added to the 2013 contribution limit. With this inflation adjustment, the total lifetime limit is $25,500, making the TFSA more powerful then ever before. The major wealth-building benefit of a TFSA is that your investment income and growth is tax-free…forever. You can take the money out with no taxes to worry about. And remember even if you haven’t contributed the maximum, you can still carry it forward for as long as you like and catch up at any time.
Not sure if the TFSA is right for you? Give us a call. We’re always here to help!
* The information provided on this site is for information purposes only. Under no circumstances should you regard any information you read or access on this site as financial, accounting, legal or tax advise. You should consult an Advisor at Georgijev Financial Group or another processional before acting on any information on this website.