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| THE TFSA: A NEW TYPE OF REGISTERED SAVINGS PLAN | | | A Tax-Free Savings Account (TFSA) is registered investment where income and withdrawals are not taxable. You can access the money in your TFSA anytime and make withdrawals to cover unexpected or major expenses. TFSAs are flexible tools that will help you build your savings and save on taxes.
While RRSPs are designed to help you retire more comfortably, a TFSA, will help you grow your savings tax free to cover occasional expenses like a new car, trips or renovations.
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