With no attribution, a family can contribute more to TFSAs
More than half of Canadians still haven’t opened a Tax Free Savings Account
A small percentage of professional investors may be subject to significant tax penalties if they abuse their accounts in tax-avoidance schemes. Most clients, according to tax officials, need not worry
Many holders of TFSAs get caught overcontributing because they don't understand the rules. More education by financial advisors, institutions and the CRA is needed
CRA sends out warning letters reminding Canadians of contribution rules
The Tax Free Savings Account is an effective way to save for both short- and long-term goals,
Differing attitudes of women and men about savings and investments have a real impact on their financial futures
Tax-free savings accounts are estimated to have cost Ottawa $220 million in lost revenue in 2011
Nearly half of Canadians think someone else is responsible for tracking withdrawals and contributions to their Tax-Free Savings Accounts
There is a huge lack of knowledge among clients about TFSAs and which investments can be contributed to these plans