Tax-Free Savings Account

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Availability

• On all Brandes funds

Contributions

• Up to $5,000 per year (after-tax dollars)
• Non-deductible for income tax purposes
• Unused room can be carried forward to future years
• Amount withdrawn will increase contribution room for the following year

Withdrawals

• Allowed any time
• Not subject to tax
• Increase contribution room for the following year

Application

• Must be registered to one individual only - joint, in-trust, corporate registrations are not allowed

Tax Shelter

• Income, interest and capital gains earned are not subject to income tax
• Capital gains as a result of disposition/redemption are not subject to tax

Collateral

• Can be used as security for loan/bank assignments

Source: Department of Finance Canada

Official Department of Finance TFSA web page

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