A lot of hard work and research came to fruition with the launch of RateHub’s newest educational tool, the TFSA Education Centre. RateHub was designed around the idea of helping Canadians make informed financial decisions and with the addition of TFSA-focused content, we’re further enabling our users to search smarter and save!
The TFSA Education Centre provides RateHub users with access to a wide range of TFSA information designed to answer a number of questions, including: What is a TFSA?, How does a TFSA work?, What is my TFSA contribution limit?, and what happens if I over contribute to my TFSA?
The first phase launched this week with nine pages:
- What is a TFSA?—A TFSA is a flexible savings tool that allows the money you put into it to grow tax-free.
- TFSA Rules—Learn all there is to know about the rules for opening a TFSA.
- TFSA Investments—You’re not limited to holding only cash in your TFSA. Learn about the other TFSA investment opportunities available, including mutual funds, GICs, stocks, and more.
- TFSA Interest Rates—Choosing the right TFSA savings account isn’t an easy decision. It’s important to compare providers and learn about what’s required to secure the best interest rate.
- TFSA vs. RRSP—Discover the difference between TFSAs and RRSPs, and when you should open each account.
- TFSA Contribution Limit—Learn all about TFSA contributions, how to calculate your TFSA contribution room, and the consequences of making an over-contribution.
- TFSA Withdrawal—You can withdraw funds from your TFSA at any time. But if you’ve maxed out your TFSA room, there are rules regarding re-contributing any amount withdrawn in the same year.
- TFSA Transfer—Learn how to transfer funds to a TFSA or between TFSAs without any consequences.
- 2017 TFSA Contribution Limit—Learn about this year’s contribution limit, past limits, and the rules for contributing to your TFSA.
Phase two additions will be available next quarter, which are focused on reviewing some of the top TFSA providers in Canada, including the types of products they offer.
Keep an eye out for RateHub’s very first TFSA calculators designed to help users understand the potential growth of their investments when placed inside a TFSA and to calculate their maximum TFSA contribution room at any given moment.
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Flickr: KMR Photography