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Products and Services: Investments
Starting in January, 2009, any Canadian resident 18 years or older who has a Social Insurance Number can begin contributing up to $5,000 a year to a Tax-Free Saving Account (TFSA).  With a TFSA, you have the opportunity to shelter your investment growth from taxes and access your earnings at any time, and for any purpose, tax-free.

Also, with a TFSA, you are not taxed on interest, dividends or capital gains.  Deposits and withdrawals are also tax-free.  Any amounts withdrawn will be added back to the contribution room in the following year.  Unused contributions can be carried over for future years. 

Deposits and withdrawals do not affect eligibility for Old Age Security, Guaranteed Income Supplement, Canada Child Tax Benefit, or Goods and Services Tax credit.

Highfield Financial Group
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