Unused Contribution room can be used in future years. There is no limit to how much
contribution room can be carried forward
Withdrawal will increase unused contribution room after the year of withdrawal
What if I am unable to contribute the full amount?
You would carry forward any unused contribution room. There is no minimum contribution
Can I open a TFSA with my spouse?
No, contributions may only be made by the holder of the account; no spousal contributions.
When can I withdraw my money?
You can withdraw at anytime for any reason. Withdrawals are not taxable.
What investments are eligible for the TFSA?
Generally the same investments as a RRSP, including GICs, Bonds, Mutual Funds, Publicly
traded securities and certain shares of small business corporations.
How is the TFSA different from a RRSP? RRSPs are income tax deductible. TFSAs are not tax deductible.
Is it more beneficial to contribute to a TFSA, RRSP or pay down my mortgage?
Your account manager or Advisor at VantageOne will be pleased to discuss individual needs to
find the right solution for you.
Can I take out a loan to start or boost a TSFA?
Yes. We offer TFSA loans. Learn more here.