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The perks and privilege of TFSAs
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Save more with tax-free growthInvestments grow tax-free while inside the TFSA, so you don’t have to include any earnings in your income.
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Keep more with tax-free withdrawalsWithdrawals can be made from the TFSA at any time for any purpose. Withdrawals are generally not considered as taxable income nor subject to tax.
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No impact to your government benefitsNo 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. Since withdrawals do not count as income for tax purposes, they do not raise your tax rate either.
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Boost returns with flexible investment choiceFrom term deposits to mutual funds* to stocks and bonds*, we'll help you build an investment strategy tailored to your goals and risk profile.
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Let’s Find the Right Investment Mix for You
We put the "Guarantee" in Guaranteed Investment Certificates. From $1 to $1,000,000 or more, your principle is always protected and fully guaranteed. Simply choose the term and rate of return that meets your investment goals. Learn more.
How to Invest
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With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.
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With the convenience of our Contact Centre. Our local team is a quick call away. No navigating automated systems or waiting hours on hold.
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Call us at 306.842.6641
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Mutual funds combine the benefits of diversification and professional asset management with affordability – making them an ideal solution for many investors. Learn more.
How to Invest
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With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.
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On your own with an award-winning online trading platform. We’ve partnered with Qtrade Direct Investing® to give you the confidence to buy and sell stocks, bonds, ETFs, and mutual funds - with low trading fees.
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Get started: Qtrade Direct Investing®.
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If you’re looking for a digital solution with automated advice, Qtrade Guided Portfolios may be for you. Using a goals-based questionnaire, Qtrade guides you to a professionally managed, low-cost portfolio that fits your personal financial goals, timeline and risk tolerance. It provides continuous oversight, automatic rebalancing and ongoing personal support. You can watch your investments grow without having to manage your account or worry about your portfolio straying from your goals. Learn more.
How to Invest
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With digital, automated advice through an online investing program that manages your portfolio, so you can “set it and forget it."
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Get started: Qtrade Guided Portfolios
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Private wealth solutions for the ease of an all-in-one solution. Learn more.
Available only at the credit union, a complete, diversified investment in a single portfolio with advanced construction and professional management.
How to Invest
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With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.
Stocks (also called shares or equities) represent an ownership position in a publicly traded corporation. As the company grows, so does your money – either through stock price increases or shared earnings such as dividends. Learn more.
How to Invest
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With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.
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On your own with an award-winning online trading platform. We’ve partnered with Qtrade Direct Investing™ to give you the confidence to buy and sell stocks, bonds, ETFs, and mutual funds - with low trading fees.
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There are several types of bonds, which are effectively loans, with the borrower usually being a government or corporation. Like a loan, the bond provides regular, predicable interest payments to the lender, in this case you. Learn more.
How to Invest
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With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.
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On your own with an award-winning online trading platform. We’ve partnered with Qtrade Direct Investing™ to give you the confidence to buy and sell stocks, bonds, ETFs, and mutual funds - with low trading fees.
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Get started: Qtrade Direct Investing.
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THE NITTY-GRITTY: everything you need to know about TFSAs
Any individual that is a resident of Canada who:
- has a valid SIN and
- who is 18 years of age or older
Did you know if you’ve never opened a TFSA, you can contribute up to $95,000 today?*
Since 2009, the Canadian government has set a maximum amount that qualified Canadians can contribute to their TFSA every year, regardless of income.
Unused TFSA contribution room can be carried forward indefinitely to future years. If you didn’t contribute the maximum amount in a given year, you’re allowed to “catch up” in the future, within the overall limits of your TFSA contribution room limits.
The following chart shows the contribution limits for each year that the TFSA has been available.
| Year | Contribution limit | Year | Contribution limit |
|---|---|---|---|
| 2009 | $5,000 | 2017 | $5,500 |
| 2010 | $5,000 | 2018 | $5,500 |
| 2011 | $5,000 | 2019 | $6,000 |
| 2012 | $5,000 | 2020 | $6,000 |
| 2013 | $5,500 | 2021 | $6,000 |
| 2014 | $5,500 | 2022 | $6,000 |
| 2015 | $10,000 | 2023 | $6,500 |
| 2016 | $5,500 | 2024 | $7,000 |
| * Total | $95,000 | ||
* That's right, if you turned 18 in or before 2009 and have never contributed to a TFSA before, you could contribute $95,000 today!
At any point, if you contribute more than the total allowed contribution limit, the over-contribution amount will be subject to a tax penalty.
Withdrawals can be made from the TFSA at any time for any purpose.
Withdrawals are typically not considered as taxable income and are not subject to tax. Because withdrawals are not considered as taxable income, they will generally not trigger government benefit clawbacks or affect tax credits.
Here's a little added bonus: any withdrawals from your TFSA are added to your TFSA contribution room limit in the following year, so you can recontribute the amount you withdrew in a future year.
- Account is funded with after-tax dollars (no tax deduction for contributions)
- Earnings growth in plan is tax-sheltered (no tax on any investment growth)
- No tax on any withdrawals
Boost your financial know-how
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Check out Enrich - a free, award-winning financial education platform.
Bulls vs. Bears
Bull markets are longer and stronger than bear markets. Investors who reacted to bear markets by selling their investments, missed out on the substantial market rallies (or bull markets) that followed.
Responsible Investing
Like all investing, responsible investing is first and foremost a way to grow your money for the future. But there’s a big difference. When you invest responsibly, your money is not just working for you and your family, it’s working for everyone. Check out this guide to find out more.
