-
The Best TFSA Plans So Far
So I was asked by a few people on what I personally think the best banks to open up a tax free savings account plan with is so far. In my personal opinion, based on what I see I would say the Bank of Montreal and ING Direct seems like the best choices overall so…
-
Government Proposed Changes To TFSA Accounts
There hasn’t been too much news and happenings when it comes to tax free savings accounts since its launch. I would say the highlights would be how the interest rates took a huge dive which kind of killed the excitement of it for many. However, I was just browsing around and reading a piece about…
-
BC Dental TFSA Contest
I recently saw on a tv commercial that the British Columbia Dental Association is holding a $1000 TFSA contest. By visiting its site, here is a little quiz that you can take at http://www.bcdental.org/quiz.php. The quiz is basically a true or false test about your dental health. After completing it, you can enter your contact…
-
TFSA Contribution Room Question
I got a message from Matty recently who sent in the following question: I’ve heard conflicting replies to the following question. Does your contribution room accumulate in years where you have not yet opened a TFSA account? For example, if I don’t open an account until 2010, will I have $10,000 in contribution room (from…
-
That $5000 Bank Thing
Well this was kind of funny. I was talking to a person today about a tax free savings account and at first he had no idea what it was. I started explaining a bit about how it is kind of like an RRSP that worked a little differently as you can earn interest and not…
-
Withdrawing TFSA Funds Instead of Transferring To Avoid Fees
As expected I have been hearing a lot of negative vibe about the business/marketing practices of certain financial institutions that have suddenly dropped its tax free savings account interest rates. As a result, many people do not want to move their funds out of the account as well as their provider charges a fee to…
-
Tax Free Savings Account Launch
So today is the launch date for TSFA accounts. The official TFSA site at http://www.tfsa.gc.ca/ was also updated. I thought this blurb of words used in a graphics on its page was interesting as you can see here: “Accumulate, Access, Tax-Free Earnings, Tax-Free Withdrawals, Savings, Flexible, Stability”. I guess that is pretty much the entire…