A CWT self-directed TFSA is a flexible and convenient way to consolidate a full range of investments into one account. Canadian residents aged 18 years and older can contribute up to $5,500 per year to a TFSA, regardless of their earned income. Contributions will not be tax-deductible, but any investments within the TFSA will grow tax-free.
- Any unused contribution room can be carried forward to future years
- Any amount withdrawn from a TFSA can be re-contributed in a future year without reducing contribution room
- All withdrawals are tax-free and can be used for any purpose