Tax Free Savings Account

YOUR High Interest Tax Free Savings Account is now available!

Sydney Credit Union members now have a new way to save money with the new Tax-Free Savings Account (TFSA). You can save or invest money without paying tax on the income it earns and you can also withdraw it tax free. Canadians now have flexible account options for a lifetime of savings needs.

The TFSA was introduced by the Government of Canada in Budget 2008 and passed by legislation on June 18, 2008. To help you understand the TFSA better, we've put together some Frequently Asked Questions (FAQs) based on the Government’s information.