TFSAs still underused – sorry, Mr. Flaherty

16 January 2013
34 Views

The Globe and Mail, Chris Atchison

When Finance Minister Jim Flaherty introduced the Tax-Free Savings Account (TFSA) to Canadians in his 2008 budget speech, he hailed the tool as “the single most important personal savings vehicle since the introduction of the RRSP.

Nearly five years later, it hasn’t quite worked out that way.

A CIBC-Harris Decima poll conducted last year found that 47 per cent of Canadians reported having a TFSA, but among those who did, only 47 per cent had contributed to the vehicle that year. Fully 41 per cent reported that they lack plans for their TFSA-invested funds.

Read the full article



About Stewart & Kett


Stewart & Kett Financial Advisors Inc.
911- 123 Front Street West,
Toronto, Ontario,
M5J 2M2, Canada
(Adjacent to Union Station)
Phone: (416) 362-6322
Fax: (416) 362-6302