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How Do I Invest?
In Branch
An in-branch advisor can help you get started. Book an appointment online, by phone, or in-person at a branch.
Personalized Advice
Our dedicated wealth advisors will provide personalized investment plans to keep your financial goals on track.
Online/Mobile Investing
Self-manage your investments through Qtrade Direct Investing® or get them professionally managed through Qtrade Guided Portfolios®.
You can make regular contributions to your TFSA throughout the year. However, it is your responsibility to make sure you do not go over your maximum yearly contribution limit. Any unused contribution room is carried forward from previous years. For example, if you’ve never contributed to a TFSA before, you can contribute up to $88,000 in 2023.
The TFSA contribution limits start accumulating once you turn 18 years old. Any over-contributions are subject to penalties and interest.
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2024 Annual limit: $7,000 2024 Cumulative limit: $95,000 |
2025 Annual limit: $7,000 2025 Cumulative limit: $102,000 |
While there are limits to the amount you are able to contribute, you can make tax-free withdrawals at any time for any purpose. Learn how easy it is to grow your savings with a tax-free savings account.
Primary Use: TFSAs are typically considered a multipurpose account used to save for short or long-term goals e.g. a car, travel, or house. RRSPs are typically used to save for retirement.
Eligibility: You must be the age of the majority in your province or territory of residence to open a TFSA. Anyone in Canada that has a valid SIN, files a tax return and earns employment income can open an RRSP.
Unused Contribution Room: Your unused contribution room is carried forward for TFSAs and RRSPs.
Withdrawals: You can withdraw money any time, tax-free from a TFSA. RRSP withdrawals are taxable, subject to certain exceptions.
Withdrawn Amounts: Funds withdrawn from your TFSA are added back to the following year's contribution room. Your contribution room is lost for the amount you withdraw from an RRSP - this is subject to certain exceptions.
Taxation: Contributions made to your TFSA are not tax-deductible. RRSP contributions are tax-deductible. This means any contributions you make may reduce the amount of tax you pay on your personal income.
Plan Maturity: An RRSP matures at the end of the calendar year in which you turn 71. There is no maturity age limit for a TFSA.
Spousal Plan: You can contribute directly to a spousal RRSP. There are no spousal TFSAs.
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Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated. Online brokerage services are offered through Qtrade Direct Investing. Qtrade Direct Investing, Qtrade Guided Portfolios and Aviso Wealth are divisions of Aviso Financial Inc.
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