2009 to 2012 .......... $5,000
2013 and 2014 ......... $5,500
2015 .......... $10,000
2016 to 2018 .......... $5,500
2019 to 2022 .......... $6,000
Tax-Free Savings Account
TFSAs are registered savings plans that let you save your after-tax income and pay no further taxes on those funds or the investment returns. This will help you save money for short and long-term goals.
Why Contribute to your TFSA?
-
Contributions with after-tax dollars
-
Contributions not tax deductible
-
Earnings are tax sheltered
-
Withdrawals are not taxable
-
Withdrawal of funds increases contribution room for the following year of the withdrawal and for future years' use
-
You can contribute to your spouse/common-law partner’s TFSA transfer your TFSA to your spouse (tax free) upon death.
Contribution Limits
TFSA Withdrawals
Be informed of what happens when you make a withdrawal
Who Can Contribute?
See if you meet the qualifications
What's the Difference?
What product works best for you and your savings goals?
Invest in your future
Maximize your contribution room. Let our member service representatives get you started
© Oshawa Community Credit Union Ltd. All rights reserved.
