Whatever you’re saving for, save yourself the taxes.

Save for your retirement with a TFSA.

A Tax-Free Savings Account (TFSA) is a great way to help meet your short- and long-term goals, including a comfortable retirement. That's because investment income in a TFSA is not taxed, even when withdrawn. This tax-free compound growth means that your money grows more quickly inside a TFSA than in a taxable account (see chart below).

Setting up regular contributions to a TFSA is easy

By making regular, automatic contributions to your TFSA, it could be easier for you to make the maximum contribution each year, which means you'll be making the most of your TFSA's tax-free growth opportunity.

Tax-free savings can add up faster

The chart below shows how $5,000 contributed annually, earning 6% interest per year can grow within a TFSA vs. outside of a TFSA.

Assumes tax rate of 32% outside TFSA, with interest income taxed annually. All contributions made at beginning of year. Annual compound rate of return of 6%. For illustration only and not indicative of future returns. Actual tax rates and rates of return will vary.

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