The Tax-Free Savings Account (TFSA) is a flexible registered savings plan that allows you to build capital to put towards special projects throughout your life.

If you are over 18 years of age, the TFSA offers you the chance to save up to $5,500 per year, tax-free. Use a TFSA to start investing in Guaranteed Investment Certificates (GICs) or Mutual Funds, which may earn higher returns than a savings account.