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What are the benefits of a tax free account (TFSA)?

The Tax-Free Savings Account is just like an RRSP in one respect and gains compound tax-free while they’re in the plan.

It’s different in two ways: First, there is no tax deduction for putting money into a TFSA, as there is in an RRSP. “With a TFSA, the money invested is after-tax money,” says the advisory. “With an RRSP it’s pre-tax money that you are investing.” Read More »

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