The tax-free savings account / [prepared by Trevor Shaw].: YN5-91/2015E-PDF
The Tax-Free Savings Account (TFSA) program was started in 2009. It benefits TFSA contributors by exempting TFSA investment income from federal and provincial income tax and transfer calculations. Under current rules, the TFSA contribution room accumulates annually for individuals aged 18 and over, so PBO projects that contribution room will grow from $1 trillion in 2015 to $9 trillion in 2080. Increases in TFSA contribution room will grow the size of the exempt tax base over time. This growth will not only increase the fiscal impact of the TFSA program as a share of federal and provincial budgets, but alter the distribution of benefits toward higher income and wealth households.
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| Department/Agency | Canada. Office of the Parliamentary Budget Officer. |
|---|---|
| Title | The tax-free savings account / [prepared by Trevor Shaw]. |
| Publication type | Monograph |
| Language | [English] |
| Other language editions | [French] |
| Format | Electronic |
| Electronic document | |
| Note(s) | Issued also in French under title: Le compte d’épargne libre d’impôt. “Ottawa, Canada. February 24, 2015.” Includes bibliographical references. |
| Publishing information | Ottawa : Parliamentary Budget Office, 2015. |
| Author / Contributor | Shaw, Trevor. |
| Description | vi, 28 p. :fig., graphs, tables |
| Catalogue number |
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| Subject terms | Savings Tax benefits Financial analysis |
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