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Investments glossary

Tax-Free Savings Account (TFSA)

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A tax-free savings account (TFSA) is an account in which contributions, interest earned, dividends, and capital gains are not taxed, and can be withdrawn tax-free.1 While it’s called a savings account, a TFSA can hold certain investments including mutual funds, securities, and bonds as well as cash.2 This account is available to individuals ages 18 and older in Canada and can be used for any purpose.1


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