If you are a Canadian resident 18 years of age or older
with a valid Social Insurance Number (SIN), you are eligible to open a Tax Fee
Savings Account. All the interest earned on your eligible contributions
are tax free. The
Federal Government increased the annual TFSA contribution limit by $500 from
$5,000 to $5,500 effective for 2013.
Tax Free Savings Account (TFSA) Features
TFSA Investment Options
Choose from a selection of eligible TFSA Investment Products such as:
- Short Term Deposits- 30 through 364 days – Interest Paid at Maturity
- Guaranteed Investment Certificates in terms from one to five Years with interest payable* :
- Monthly (Direct Deposit Only)
- or Compounded
* The Interest Earned on your TFSA deposits are tax free, to spend or reinvest as you wish.
You may prefer to elect to automatically withdraw your interest earned and,
- Receive payment by cheque or
- Receive a credit directly to your bank account (VOID Cheque Required)
MINIMUM TFSA DEPOSIT AMOUNTS
- Short-Term Deposits $500.00
- GICs $500.00
At maturity the principal amounts will be automatically re-invested until a written request to withdraw the full or a partial amount of the deposit is received.
Contributing to Your TFSA
- Cheque Payable to Equitable Trust
- Partial withdrawals from an existing Equitable Trust investment for contribution to an Equitable Trust TFSA (continuing the same terms) will be available at any time
All withdrawals of principal must be requested in writing.
Canada Deposit Insurance Corporation (CDIC)
All products eligible for Equitable Trust’s Tax Free Savings Account are eligible for coverage under CDIC’s deposit insurance program subject to CDIC’s limits and policies
TFSA Application Form (2011)
Click here for TFSA Transfer Form