In a perfect world, we all want a great investment return without paying any taxes!
Because it is so rare to get a perfect tax break, people are often suspicious of the Tax Free Investment Savings Account, or TFSA for short. We run the danger of neglecting a very valuable tool that could save us a fortune in taxes over time.
We should be paying more attention to maximizing the TFSA’s power. We have seen the benefits especially well for our clients who have maximized their contributions ever since the TFSA was made available in 2009.
The TFSA account is a powerful tool in building your wealth. By not understanding its benefits, you may be eroding your wealth through excessive taxation.
Everyone wants a better way when thinking about reducing the taxation on investments. The TFSA is in many ways the “Holy Grail” of registered savings vehicles in both its tax-efficiency and flexibility.