Quebec Tax-Free Savings Accounts
Canadians wanting to save for any reason now can reduce their taxes on savings accounts.
The Canadian Government has introduced a new Tax-Free Savings Account (TFSA).
The TFSA will allow Canadians to put money in investment vehicles to grow savings tax-free throughout their lifetimes. Tax-Free savings accounts can be used to buy a new car, renovate a house, start a small business or take vacations. Quebec residents from all income levels can benefit.
Tax-Free Savings Account
Canadians 18 and older can save up to $5,000 every year in a Tax-Free Savings Account. Contributions to Tax-Free Savings Accounts will not be deductible for income tax purposes but investment income, including capital gains. Money earned in a TFSA will not be taxed, even when withdrawn. Unused Tax-Free Savings Account contribution room can be carried forward to future years. You can withdraw money from the Tax-Free Savings Account at any time for any purpose, and the amount withdrawn can be put back in the TFSA without reducing your savings contribution room. Income earned in Tax-Free Savings Accounts will not affect your eligibility for federal income-tested benefits and credits.
Contributions to your spouse's Tax-Free Savings Account are allowed and can be transferred to a spouse upon death.
Quebec Tax-Free Savings Account Notes
TFSA savings will not be able to reduce your income for tax purposes. People who cannot contribute $5,000 in a given year will be able to carry forward their unused Tax-Free Savings Account contribution room to future years. Canadians can contribute to their spouse's or common-law partner's Tax-Free Savings Account, depending on the spouse or partner's available savings account room.
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Quebec Companies offering Savings Plans
Fonds de Solidarite F T Q - 418-628-3663
Service Aux Actionnaires
100-5000, boulevard Des Gradins , Quebec , QC G2J1N3
Investing Guide Category : Registered Retirement Savings Plan
www.fondsftq.com
Savings, Tax Free Savings Accounts
Fonds Universitas Trust Funds - 418-651-8975
3005, avenue Maricourt , Quebec , QC G1W4T8
Investing Guide Category : Registered Education Savings Plans
Savings, Tax Free Savings Accounts
Gestion Universitas - 418-651-8977
3005, avenue Maricourt , Quebec , QC G1W4T8
Investing Guide Category : Registered Education Savings Plans
Savings, Tax Free Savings Accounts
Universitas Foundation Of Canada - 418-651-8975
3005, avenue Maricourt , Quebec , QC G1W4T8
Investing Guide Category : Registered Education Savings Plans
Savings, Tax Free Savings Accounts
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