Monthly Archive: January 2009

No big deal

The new tax-free savings account is bound to appeal to investors who got snookered by last fall’s market crash. What could be better than earning money and paying no tax! But for the life of me, I can’t see the big deal in being able to invest $5,000 annually and not pay any tax on either income earned or capital gains. The trade-off for no tax is that the annual $5,000 investment does not bring any immediate benefit in the form of a tax deduction as happens with an RRSP contribution. The official example given by the Department of Finance...

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