Quote:
Originally Posted by Slava
I think they should've called it the "Tax Free Investment Account", although the banks are likely thrilled with the current name. Its too bad, but hopefully more people start to learn about it anyway.
I actually do think that its a limited window for the TFSA though in terms of its tax treatment. I just can't see future governments letting you have a few hundred thousand bucks to draw on tax free as the need (see my thoughts on debt being left for future generations) and allure is probably too large to ignore. With no growth at all for a married couple at 35 today thats $250k that they would pay zero taxes on, both on the way up and when its drawn down. Just with prudent investing, that could easily be doubled and then some. It won't be enough to retire on alone at that point, but at todays tax rates thats roughly $200k in taxes the government has to ignore....from one household.
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Never been the biggest bank backer myself but you can't dismiss all banks for savings or investing as many have pointed out.
http://www.newswire.ca/en/story/8881...estment-awards
http://www.rbc.com/aboutus/awards.html
Lets not get carried away with the easy bank bashing....