Tax-Free Savings Accounts
MRL Capital Trust Qualifies for Tax Free Savings Accounts
Introduced in Budget 2008, the Tax-Free Savings Account (TFSA) allows Canadians to set money aside in eligible vehicles and watch those savings grow tax free.
- Capital gains and other investment income earned in a TFSA will not be taxed.
- Canadians over 18 can save up to $5,000 every year in a TFSA.
- Contributions to a TFSA are in after tax dollars but investment income will not be taxed, even when withdrawn.
- Contributors can carry forward unused TFSA contribution room to future years.
- Withdraw funds anytime for any purpose--tax free.
- Put back the amount withdrawn later without reducing your contribution room.
- Earned income or withdrawals will not affect your eligibility for federal income-tested benefits and credits.
- Spouses can contribute to each other's TFSA and TFSA assets can be transferred to a spouse or common-law partner upon death.
To learn more about Tax-Free Savings Accounts call us at 1 (877) 399-8886
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“This information does not constitute an offer to sell or solicitation of an offer to buy any securities. Nor does it purport to be, a complete description of an investment in MRL Capital Trust. It is subject to the provisions of the Confidential Offering Memorandum as it may be amended or restated from time to time.”
