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New tax-free saving account

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发表于 2008-2-27 11:01 | 显示全部楼层 |阅读模式
老杨团队,追求完美;客户至上,服务到位!
Any one know how this new policy works?
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发表于 2008-2-27 11:10 | 显示全部楼层
How the Tax-Free Savings Account Will Work
+ t" A9 W6 \1 O9 m/ IStarting in 2009, Canadian residents age 18 or older will be eligible to contribute up to $5,000 annually to a TFSA, with unused room being carried forward. " [* K' g9 Y2 A4 I
Contributions will not be deductible.
3 r* U4 a" p0 L* {/ XCapital gains and other investment income earned in a TFSA will not be taxed. - S: I( c0 M0 `( Z  L, i) a- q& G
Withdrawals will be tax-free.
9 D2 t5 k$ D3 M/ a, a* gNeither income earned within a TFSA nor withdrawals from it will affect eligibility for federal income-tested benefits and credits.
  X! J2 }' r& p1 Y1 lWithdrawals will create contribution room for future savings.
1 g  u  \% I; G+ Q% dContributions to a spouse’s or common-law partner’s TFSA will be allowed, and TFSA assets will be transferable to the TFSA of a spouse or common-law partner upon death.
# ?/ Y; R" ~+ Q! `- d/ L. P0 lQualified investments include all arm’s-length Registered Retirement Savings Plan (RRSP) qualified investments.
& h6 {2 q5 H8 l) GThe $5,000 annual contribution limit will be indexed to inflation in $500 increments.
大型搬家
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发表于 2008-2-27 11:11 | 显示全部楼层
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 楼主| 发表于 2008-2-27 11:41 | 显示全部楼层
老杨团队 追求完美
It is the interest on the saving account that will be saved, right? Only helps with people who has lots of savings.
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发表于 2008-2-28 13:07 | 显示全部楼层
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