You can open up a TFSA account if you are of 18 years of age or older.
If you invest less than the $5000 threshold in any given year, you can carry forward the difference for future investment room
You do not have to have a TFSA account opened to accumulate savings room, as long as you were 18 years of age at the time. For example, the TFSA was introduced in 2009, if you decided to open up an account in 2010 instead of 2009 you would still be able to invest $10 000 that year as long as you were 18 in 2009.
Speak to one of our advisors today to help you find the best investment to suit your needs to hold within your TFSA account.
The information in this article was current at 06 Dec 2011