Tax-Free Savings Account (TFSA)
Assets can be liquidated and withdrawn tax-free, offering flexibility for near-term capital needs.
Wealth management products and services offered by:
Tax-Free Savings Account (TFSA)
Assets can be liquidated and withdrawn tax-free, offering flexibility for near-term capital needs.
Wealth management products and services offered by:
Tax-Free Savings Account (TFSA)
Assets can be liquidated and withdrawn tax-free, offering flexibility for near-term capital needs.
Wealth management products and services offered by:
A TFSA is a flexible savings vehicle designed for a variety of financial goals
Tax-Free Growth Potential
All investment income earned within the account—including capital gains and dividends—is exempt from Canadian tax, allowing your wealth to compound faster.
Withdrawal Flexibility
You can access your funds at any time without tax penalties. Furthermore, the full amount withdrawn is added back to your contribution room in the following calendar year.
Diverse Objectives
Whether you are saving for a home, education, or an emergency fund, there are no restrictions on how you use your money.
A TFSA is a flexible savings vehicle designed for a variety of financial goals
Tax-Free Growth Potential
All investment income earned within the account—including capital gains and dividends—is exempt from Canadian tax, allowing your wealth to compound faster.
Withdrawal Flexibility
You can access your funds at any time without tax penalties. Furthermore, the full amount withdrawn is added back to your contribution room in the following calendar year.
Diverse Objectives
Whether you are saving for a home, education, or an emergency fund, there are no restrictions on how you use your money.
A TFSA is a flexible savings vehicle designed for a variety of financial goals
Tax-Free Growth Potential
All investment income earned within the account—including capital gains and dividends—is exempt from Canadian tax, allowing your wealth to compound faster.
Withdrawal Flexibility
You can access your funds at any time without tax penalties. Furthermore, the full amount withdrawn is added back to your contribution room in the following calendar year.
Diverse Objectives
Whether you are saving for a home, education, or an emergency fund, there are no restrictions on how you use your money.
Understanding the TFSA Account
Who could open a TFSA
The TFSA is ideal for Canadian residents 18+ seeking tax-free growth and flexible withdrawals for any goal, making it suitable for both short-term savings and long-term retirement portfolio diversification.
Cumulative Limit
Eligible residents 18+ since 2009 have a total lifetime room of $109,000, assuming no prior contributions.
Annual Limit
The 2026 contribution room is $7,000, indexed to inflation and reviewed yearly.
Carry-Forward
Unused room and previous withdrawals roll over indefinitely.
Eligibility
You begin accumulating contribution room the calendar year you turn 18.
Understanding the TFSA Account
Who could open a TFSA
The TFSA is ideal for Canadian residents 18+ seeking tax-free growth and flexible withdrawals for any goal, making it suitable for both short-term savings and long-term retirement portfolio diversification.
Cumulative Limit
Eligible residents 18+ since 2009 have a total lifetime room of $109,000, assuming no prior contributions.
Annual Limit
The 2026 contribution room is $7,000, indexed to inflation and reviewed yearly.
Carry-Forward
Unused room and previous withdrawals roll over indefinitely.
Eligibility
You begin accumulating contribution room the calendar year you turn 18.
Understanding the TFSA Account
Who could open a TFSA
The TFSA is ideal for Canadian residents 18+ seeking tax-free growth and flexible withdrawals for any goal, making it suitable for both short-term savings and long-term retirement portfolio diversification.
Cumulative Limit
Eligible residents 18+ since 2009 have a total lifetime room of $109,000, assuming no prior contributions.
Annual Limit
The 2026 contribution room is $7,000, indexed to inflation and reviewed yearly.
Carry-Forward
Unused room and previous withdrawals roll over indefinitely.
Eligibility
You begin accumulating contribution room the calendar year you turn 18.
Comparing the difference between a TFSA and an RRSP
Feature
TFSA
RRSP
Feature
TFSA
RRSP
Main Purpose
Any goal (short or long-term)
Retirement savings
Main Purpose
Any goal (short or long-term)
Retirement savings
Tax on Deposits
None (uses after-tax money)
Tax-deductible (reduces your taxes)
Tax on Deposits
None (uses after-tax money)
Tax-deductible (reduces your taxes)
Tax on Growth
Tax-free
Tax-deferred until withdrawal
Tax on Growth
Tax-free
Tax-deferred until withdrawal
Tax on Withdrawals
Tax-free
Taxed as regular income
Tax on Withdrawals
Tax-free
Taxed as regular income
Withdrawal Rule
Room is added back next year
Room is generally lost permanently
Withdrawal Rule
Room is added back next year
Room is generally lost permanently
Age Limit
None; keep it for life
Must close/convert by age 71
Age Limit
None; keep it for life
Must close/convert by age 71
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Even more ways to grow your wealth
Disclaimer
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information is for educational purposes. Should any conflict arise between the information presented here and the official CRA website, the CRA website is considered the correct source. Please consult with a licensed representative for further assistance.
*Investment fund and portfolio management services are provided through Corex Financial Inc.*
Disclaimer
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information is for educational purposes. Should any conflict arise between the information presented here and the official CRA website, the CRA website is considered the correct source. Please consult with a licensed representative for further assistance.
*Investment fund and portfolio management services are provided through Corex Financial Inc.*
Disclaimer
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information is for educational purposes. Should any conflict arise between the information presented here and the official CRA website, the CRA website is considered the correct source. Please consult with a licensed representative for further assistance.
*Investment fund and portfolio management services are provided through Corex Financial Inc.*