 鲜花( 0)  鸡蛋( 0)
|
How the Tax-Free Savings Account Will Work 8 c7 T# {5 k/ b, R$ ~+ L. {
Starting in 2009, Canadian residents age 18 or older will be eligible to contribute up to $5,000 annually to a TFSA, with unused room being carried forward. ) Y+ r8 q5 l) v1 L. h
Contributions will not be deductible. ) o! K3 }: T1 V+ |, W9 o5 u$ W
Capital gains and other investment income earned in a TFSA will not be taxed.
9 H- o# ]7 d+ B0 b4 t+ rWithdrawals will be tax-free. 2 C2 S3 L# I ~3 a1 X0 M) [1 x' [
Neither income earned within a TFSA nor withdrawals from it will affect eligibility for federal income-tested benefits and credits.
, k1 d2 l& Q8 ]5 |" dWithdrawals will create contribution room for future savings.
, ^- r, `$ w/ AContributions to a spouse’s or common-law partner’s TFSA will be allowed, and TFSA assets will be transferable to the TFSA of a spouse or common-law partner upon death.
- R4 U% b; T( K0 t7 [. s* eQualified investments include all arm’s-length Registered Retirement Savings Plan (RRSP) qualified investments.
. r0 y7 ~$ c' ~8 V# t. [5 |! oThe $5,000 annual contribution limit will be indexed to inflation in $500 increments. |
|