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What are the benefits of a tax-free savings account? SN

SatrixNOW have a TFSA product that offers the following key benefits:

  • Tax free
As the name implies, all profits / earnings within the TFSA are 100% tax free. Neither the income nor the capital gains earned in a TFSA will be taxed (provided the investor remains within the annual and life-time thresholds).

  • Flexibility

The investor can deposit (within limit) or withdraw whenever he / she likes and can choose how they want to invest - with lump sums, regular investments or a combination of both.

  • Variety
The SatrixNOW TFSA allows investors the choice of investment into over 10 different approved ETFs ( Exchange Traded Funds).

  • Growth potential

Any profits made on the investment do not form part of the investors annual or lifetime limits. This means that you can reinvest the interest and dividends, growing your investment even more!

Personal Finance published a great article on Tax-free savings accounts. Of particular interest is their example of the significant impact investing in a Tax-free savings account can have over the lifetime of an investment.

See point 5. titled "The Benefits can be significant" at the following link - 
Tax-Free Savings accounts: What you should know

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