RBC Financial Group
RBC Home | Search | Site Map | Contact Us | Legal Terms | Français  
Other RBC Sites:
Banking Investments Capital Markets
» Corporate Profile
» Corporate Governance
» History
» Investor Relations
Media Newsroom
 News Releases
 Editorial Edge
 RBC Executive Profiles
 Speeches
 RBC Facts
 RBC Purchasing Managers’ Index
 RBC Canadian Consumer Outlook Index
 RBC U.S. Consumer Outlook Index
 Special Reports
 Multimedia
 Events Calendar
» RBC Social Media
» Economics
» Publications
» Community & Sustainability
» Careers
» Diversity
» Become a Supplier
» Become an Employee
» Make a Complaint

News Releases

 

RBC offers preregistration for the tax-free savings account

TORONTO, October 9, 2008 — With the launch of the Tax-Free Savings Account only three months away, RBC is offering pre-registration and advice through its branch and telephone banking network.

"The TFSA is unlike anything Canadian investors have seen before and will be an important investment vehicle for Canadians looking to save money and minimize their taxes," said David Birkbeck, head, registered products strategy, RBC. "Whether part of a long term savings strategy or to meet a short term financial goal, RBC is available to help clients understand how they can get the most benefit from the TFSA."

Within the TFSA, RBC clients will have access to a wide variety of investment options including RBC Funds, RBC GICs (Non-Redeemable, Redeemable, Canadian Market-Linked, Global Market-Linked) and RBC Savings Deposits. Plus, there will be no annual administration or withdrawal fees. Clients will also have the opportunity to make regular, pre-authorized contributions through TFSA-Matic™.

The Tax-Free Savings Account (TFSA) is a new registered account that was introduced by the Federal Government in the 2008 Budget and will be available starting January 2009. The TFSA will be available to all Canadian residents, 18* and older, with a Social Insurance Number and allows eligible Canadians to contribute up to $5,000 each year.

Canadians wishing to learn more, get advice or preregister for a Tax-Free Saving Account can do so through Royal Direct 1-800-463-3863 or through booking an appointment at their local RBC branch.

For more information on the Tax Free Savings account, please visit: www.rbc.com/tfsa.

* The age of majority is 19 in certain provinces and territories, which may delay the opening of a TFSA. However, the accumulation of contribution room will start at age 18.

- 30 -

For more information, please contact:
Sarah Pendrith, (416) 974-8820

 



Take Action
  Contact a member of the Media Relations Team


In the news
  RBC PMITM signals solid output growth in February (14.03.03)
  RBC seeks emerging painters to enter 16th annual RBC Canadian Painting Competition (14.02.21)
  Royal Bank of Canada announces results of conversion privileges of Non-Cumulative 5-Year Rate Reset First Preferred Shares Series
AJ & AL (14.02.14)
  More »


Related Links
  Quarterly Information
  RBC at a Glance
  RBC Letter
  About RBC


  Special Reports
 
  RBC Canadian Manufacturing Purchasing Managers'Index
 
11/27/2008 11:55:39