Millions of Canadians have opened a Tax-Free Savings Account, with more doing so every day. First launched in 2009, TFSA plans have become one of the most popular ways to save and invest. Their flexibility and tax-saving potential appeals to everyone, young and old. And you don't have to be wealthy to use them; millions of middle- and modest-income earners have opened plans and contribute to them on a regular basis.
     In 2015, the federal government announced a big increase in the annual TFSA contribution limit to $10,000, effective immediately. This move makes this popular investment vehicle an even more attractive option for putting money aside for future needs, including retirement, education, a new home, a special vacation, or as an emergency fund.
     In this completely updated edition, Canada's TFSA expert Gordon Pape explains how you can use the latest rule changes to your advantage and provides a range of strategies for maximizing tax-exempt profits. He also warns of some of the potential dangers in the plans and explains how to avoid them. And he tells readers how to decide whether to invest in TFSAs or put money into RRSPs or pay off debt.
     For anyone who already has a Tax-Free Savings Account or is thinking of opening one, this book is a must-read. It may be worth many thousands of dollars to you over your lifetime.

Gordon Pape is best known to Canadians as CBC-radio's personal finance commentator and as the author of popular books on money management and investment strategies. These include Building Wealth in the '90's, Low-Risk Investing, Retiring Wealthy, and his annual guides to RRSP's and mutual funds. He has also co-authored three novels and the award-winning Montreal at the Crossroads.

Gordon Pape's profile page

“THE source on TFSAs. No one knows them better than Gordon Pape.”—Rob Carrick, personal finance columnist, The Globe and Mail

“A TFSA is currently one of the best savings vehicles for you and your family. Pape offers excellent advice and strategies on how to make the most of your TFSA contributions for future growth.”—Pat Foran, consumer advocate, broadcaster, and author of The Smart, Savvy Young Consumer

“Personal finance writer Gordon Pape had kept a close eye on the TFSA since its launch in 2009. He offers informed advice about the tax rules, the role of TFSAs versus RRSPs, and even helps you put together portfolios in a world of low interest rates. Read it and profit.”—Ellen Roseman, personal finance columnist, Toronto Star; author; and instructor

“Gordon Pape and the TFSA are an unbeatable combination: together they are a powerhouse that will ensure financial peace of mind for millions of Canadians.”—Evelyn Jacks, president of Knowledge Bureau and author of many books, including Family Tax Essentials