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Discover the power and potential of a TFSA account with SmartFolio

Start Investing Today

  • Enjoy the security and assurance of a professionally-managed ETF portfolio
  • Get the benefits of tax-free savings
  • Access your cash at any time without paying taxes or penalties

You get the benefits of hands free online investing and a managed portfolio with tax-free savings on growth.

The Tax-Free Savings Account (TFSA) was created to make saving more attractive for Canadians. You get to save and earn returns without paying taxes on the accrued interest, profits and dividends from investments. As well, you can withdraw cash any time without penalty.

When getting a TFSA, there are a lot of savings and investment account types to choose from. Sometimes it can be a challenge trying to decide what the best choice is for you to attain your short- and long-term goals. A good consideration is opening a TFSA account with SmartFolio. Let’s have a look at the potential investment and savings power this combination offers.

How a TFSA account works with SmartFolio

How can SmartFolio work as a Tax-Free Savings Account (TFSA)? First, let’s look at what SmartFolio offers you:

  • You’re matched with an ETF (Exchange Traded Funds) portfolio that suits your investment objectives and level of risk tolerance
  • Your portfolio is managed by a team of investment professionals that adjust your holdings to take advantage of market movement
  • 24/7 access to your account balance, holdings and performance from any device to track against your goals
  • You can even set up recurring contributions to keep your SmartFolio ETF portfolio growing

Now, imagine all that as a TFSA. Here are just a few of the benefits of a TFSA:

  • TFSAs were created in 2009 and the contribution room you have accumulates every year after you’ve turned 18:
    • From 2009 to 2012 the contribution limit was $5,0001
    • In 2013 and 2014 the contribution limit was $5,5001
    • In 2015 the contribution limit was $10,0001
    • Since 2016 the contribution limit has been $5,5001*
    • So if you were 18 in 2009, you would have $52,000 of contribution room as of 2017
  • Your contributions can grow tax-free each year
  • You can maximize your savings potential by buying investment products (like SmartFolio) as your TFSA and pay no tax on growth, dividends and interest
  • You can withdraw your savings from your TFSA at any time with no penalty, and the following year those withdrawals can be put back into your TFSA in addition to the annual contribution limit
  • There is no maximum age limit to contribute to a TFSA

You get the benefits of hands free online investing and a managed portfolio with tax-free savings on growth. It’s a win-win.

Finally, your SmartFolio TFSA Account has low annual fees and you can open your account online as little as 15 minutes – no need to visit a branch. How’s that for convenience?

You get the benefits of hands free online investing and a managed portfolio with tax-free savings on growth.

See how a TFSA account with SmartFolio works for you

Saving for retirement – or for a major purchase – is easier than you may think – especially with a SmartFolio TFSA account. A good tip is to make regular contributions, whatever you can comfortably afford. You can make this an easy habit by setting up recurring contributions – just set it and forget it. You’ll be amazed how much you can save without even trying. Your contribution limit breaks down to just $105 a week if you set up recurring contributions at the start of the year.

When it’s time to take money out of your TSFA account, SmartFolio makes it easy. Instead of having to decide how much of each of your investments to sell, just withdraw the dollar amount you need and our portfolio managers will rebalance your portfolio.

Harness the benefits of a SmartFolio TFSA account

A SmartFolio TFSA account can help boost your investment and savings power while offering you the combined benefits of tax-free savings and penalty-free access to your money. After all, when it comes to saving and investing, there’s no time like the present. Start today!

Ready to start investing?

Open your SmartFolio account and let us help you reach your financial goals. Start by getting matched with an ETF Portfolio.

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smart.folio@bmo.com

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1-844-895-3721

1. Canadian Revenue Agency. Contributions - Canada.ca. 24 11 2016. 12 09 2017. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html.
* Contribution limits are accurate as of the limit for 2018, contribution limits may change for 2019 onwards