TFSA: Great Tax-Free Vehicle

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  • 00 mins 45 secs
Wilmot George, VP of tax, retirement and estate planning at CI Investments, discusses the importance of understanding the ins and outs of the Tax-Free Savings Account (TFSA) program.


MASTERCLASS: 2019 Federal Budget

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Now, the TFSA, like I said, is a great vehicle, tax-free vehicle, and Canadians are embracing it more and more, Canadians of all ages, adults of all ages. If you talk to the typical Canadian, they'll say, "Yeah, this is great. This is a tax-free vehicle," but the reality is when you look at the Income Tax Act, the TFSA can become taxable. If you're using it inappropriately, all of a sudden, the TFSA becomes taxable and it's not tax-free.

Mackenzie Investments was founded in 1967 and is a leading investment management firm providing investment advisory and related services, as well as a member of the IGM Financial Inc. (TSX: IGM) group of companies.