Ease of withdrawals You can withdraw any amount at any time without penalty. *There is no restriction as to the use of withdrawals.
Ideal complement to an RRSP The TFSA investment instrument complements an RRSP as an efficient way to save and put more money toward your retirement.
No affect on income-based government benefits Neither TFSA contributions nor its earnings affect eligibility for the Guaranteed Income Supplement, Old Age Security, the Canada Child Tax Benefit or other government benefits based on income.
Practical income-splitting tool A couple can contribute to two TFSAs even if one of them has no income.
Collateral assignment It’s possible to assign the assets of a TFSA as collateral for a loan.