Solutions for your future needs.

Book a meeting

(519) 397-5000


Tax-planning scenarios using the TFSA

Article Licenses: DL
Advisor Licenses:

Compliant content provided by Adviceon® Media for educational purposes only.


There are basic uses for the Tax-Free Savings Account (TFSA) for investment planning purposes. Some may have advantages for your planning:

1. Retirement planning. TFSAs can benefit individuals who are looking to invest in their retirement but are unable to contribute to RRSPs for various reasons.

2. Education planning. Consider using both the traditional RESP and the TFSA as an educational savings vehicle. A TFSA offers parents another tax-efficient method for this investing.

3. Income splitting with spouses and children (over 18). TFSAs go beyond normal attribution rules, which offer income splitting to high-income spouses and partners and children over 18 years old.

4. Estate planning. Individuals can name surviving spouses and partners as successor account holders, ensuring the tax-free status of a TFSA will continue after death. The TFSA may allow funds to be rolled over to the successor annuitant, up to Dec. 31 of the year following the year of an annuitant’s death. Talk to your advisor as legislation can change with regard to registered plans.

Click here for updated contribution info.

Source CRA:



Publisher's Copyright & Legal Use Disclaimer

All articles are a legal copyright of Adviceon®Media.

The particulars contained herein were obtained from sources which we believe are reliable, but are not guaranteed by us and may be incomplete. This website is not deemed to be used as a solicitation in a jurisdiction where this representative is not registered. This content is not intended to provide specific personalized advice, including, without limitation, investment, insurance, financial, legal, accounting or tax advice; and any reference to facts and data provided are from various sources believed to be reliable, but we cannot guarantee they are complete or accurate; and it is intended primarily for Canadian residents only, and the information contained herein is subject to change without notice. References in this Web site to third party goods or services should not be regarded as an endorsement, offer or solicitation of these or any goods or services. Always consult an appropriate professional regarding your particular circumstances before making any financial decision.

Mutual Funds and/or Segregated Funds Disclaimer

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investment funds, including segregated fund investments. Please read the fund summary information folder prospectus before investing. Mutual Funds and/or Segregated Funds may not be guaranteed, their market value changes daily and past performance is not indicative of future results. The publisher does not guarantee the accuracy and will not be held liable in any way for any error, or omission, or any financial decision. Talk to your advisor before making any financial decision. A description of the key features of the applicable individual variable annuity contract or segregated fund is contained in the Information Folder. Any amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value. Product features are subject to change.


Utley Financial Group is a proud member of:

Representing Freedom 55 Financial, a division of London Life Insurance Company