Épargne Placements Québec

Tax‑free savings account (TFSA)

Earn tax‑sheltered investment income!

The tax‑free savings account (TFSA) is a smart choice to help you achieve your savings objectives. Whether you are saving to achieve a specific goal, accumulating funds for your retirement in addition to your RRSP or setting aside part of the income you are withdrawing from your RRIF, the Épargne Placements Québec TFSA is a judicious component of your investment strategy.

In addition to its tax benefits, the Épargne Placements Québec TFSA offers:

  • Products well adapted to your TFSA portfolio.
  • Attractive interest rates.
  • No management or administration fees.
  • A quarterly portfolio statement that allows you to effectively manage your investments.
  • Investments fully guaranteed by the Québec government, regardless of amount or term.

The TFSA is a savings vehicle that enables investment income to be accumulated free of tax. The main features of this account are:

  • Unlike an RRSP, contributions to a TFSA are not tax‑deductible.
  • Interest accumulated in a TFSA and amounts withdrawn from it are not taxable.
  • Since 2009, contribution room for the TFSA has accumulated each year if, at any time during the calendar year, you are 18 years of age or over and are a resident of Canada.
  • The maximum annual contribution is being increased according to the inflation rate, rounded to the nearest $500 dollars. Here is the annual TFSA contribution limit, by year, since the 2013:
Year Annual limit
2013 to 2014 $5 500
2015 $10 000
2016 to 2018 $5 500
2019 $6 000
2023 $6 500

To be eligible for the Épargne Placements Québec TFSA, you must:

  • be domiciled in Québec;
  • be an individual 18 years of age or older;
  • have a valid social insurance number (SIN).

Except for Stock Index Bonds, you can use all your other products held in the Investment Savings Account to contribute to your TFSA. Once your products are transferred, they maintain the same characteristics. You can perform the transaction directly online though the “Online transactions” section > Operations > Transfers.

To learn more about the Épargne Placements Québec TFSA, check out our frequently asked questions.