Finance note
Personal reference notes on investing concepts, tradeoffs, and practical setup details in Canada.
← Back to finance topicsSheltered Accounts
TFSA Tax Free Savings Account
Money that grows in this account is tax-free.
Every year contribution is determined by federal government.
Unused contribution gets added to next year.
No penalty for withdrawing money.
Money withdrawn gets added back to contribution to the following year.
For 2026, contribution limit is $7k. For more information on TFSA contribution check it out with CRA
RRSP Registered Retirement Savings Plan
Contributions made to this account help in reducing taxes.
FHSA First Home Savings Account
RESP Registered Education Savings Plan
RDSP Registered Disability Savings Plan
HBP Home Buyers Plan