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By now you have probably heard about the government's latest Registered Savings account. It is called the Tax-Free Savings Account (or TFSA).
Beginning January, 2009, Canadians over the age of 18 can save up to $5,000 each year in a TFSA. Interest earned in these accounts will not be taxable. You will be able to withdraw funds from a TFSA at any time for any purpose. Funds withdrawn, including interest, increases the amount you may contribute to a TFSA in the following year.
For more information feel free to:
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