|
gptkbp:instanceOf
|
gptkb:tax-advantaged_savings_account
|
|
gptkbp:annualContributionLimit
|
set by Canadian government each year
|
|
gptkbp:beneficiaryDesignationAllowed
|
yes
|
|
gptkbp:benefit
|
no impact on federal income-tested benefits
flexible withdrawals
|
|
gptkbp:canBe
|
gptkb:emergency_fund
banks
credit unions
trust companies
retirement savings
long-term savings
short-term savings
|
|
gptkbp:contributionLimit2023
|
$6,500
|
|
gptkbp:contributionRoom
|
unused room carries forward indefinitely
|
|
gptkbp:contributionTaxDeduction
|
none
|
|
gptkbp:country
|
gptkb:Canada
|
|
gptkbp:cumulativeLimit2009to2023
|
$88,000
|
|
gptkbp:eligibility
|
Canadian residents age 18 or older with a valid SIN
|
|
gptkbp:foreignDividendsTax
|
may be subject to withholding tax
|
|
gptkbp:fullName
|
Tax-Free Savings Account
|
|
gptkbp:incomeAttributionRules
|
do not apply
|
|
gptkbp:introduced
|
gptkb:Government_of_Canada
|
|
gptkbp:introducedIn
|
2009
|
|
gptkbp:investedIn
|
bonds
mutual funds
stocks
cash
GICs
|
|
gptkbp:jointOwnershipAllowed
|
no
|
|
gptkbp:namedFor
|
gptkb:Government_of_India
|
|
gptkbp:nonResidentContributionsAllowed
|
no
|
|
gptkbp:nonResidentTaxPenalty
|
1% per month on contributions while non-resident
|
|
gptkbp:ownedBy
|
gptkb:single
|
|
gptkbp:penalty
|
over-contributions subject to 1% per month penalty
|
|
gptkbp:purpose
|
encourage personal savings
|
|
gptkbp:regulates
|
gptkb:Canada_Revenue_Agency
|
|
gptkbp:relatedTo
|
gptkb:RESP
gptkb:RRSP
RDSP
|
|
gptkbp:reportsTo
|
financial institutions report to CRA
|
|
gptkbp:spousalContributionsAllowed
|
yes
|
|
gptkbp:successionRules
|
can name successor holder or beneficiary
|
|
gptkbp:taxStatus
|
contributions are not tax-deductible
investment income is tax-free
withdrawals are tax-free
|
|
gptkbp:withdrawalRules
|
withdrawals can be re-contributed in future years
|
|
gptkbp:withdrawalTax
|
none
|
|
gptkbp:bfsParent
|
gptkb:Wealthsimple_Invest
gptkb:Wealthsimple_Trade
gptkb:BMO_InvestorLine
|
|
gptkbp:bfsLayer
|
7
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
TFSA
|