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Our Financial Services
  • Retirement Planning
    • Do you know when you're going to retire?
    • Do you know how you will retire?
    • Do you know what's beyond retirement?
  • Investment Planning
    • You've worked hard for your money, shouldn't it now work hard for you?
  • Insurance Planning
    • How will your family get by if you have a Critical Illness such as Cancer or a Stroke?
    • With your death or disability, how will your family pay the bills?
  • Estate Planning
    • Who will get the biggest chunk of your estate on your passing, your family or the government?
  • Employee Group Benefits
    • Are you a business owner looking to attract and retain good quality employees?
    • Do you want a tax deductible way to provide health and dental benefits to your employees and their families?
  • Tax Planning
    • Do you pay taxes?
    • Are you paying the least amount of tax?
  • Cash Management
    • Do you need a strategy to get out of debt and start saving money?

Tax-Free Savings Account (TFSA) in Maple Ridge & Pitt Meadows, BC

A Tax-Free Savings Account (TFSA) in Maple Ridge can be an effective & flexible way to help save for a variety of needs including: emergency savings fund, home renovations, travel, education &  future retirement needs. 

What is TFSA
A TFSA in Maple Ridge is a general purpose savings vehicle that is registered with the federal government allowing you to pay no income taxes on investment returns inside the account. The TFSA in Maple Ridge can be an effective way to compliment your other existing registered accounts like the Registered Retirement Savings Plan (RRSP) and the Registered Education Savings Plan (RESP). Any Canadian over the age of 18 that has a social insurance number can open and contribute to a TFSA.  

Who Can Benefit from a TFSA

  • For anyone who would like to access tax free investment savings prior to retirement. Unlike an RRSP where you pay tax on withdrawals, TFSA withdrawals can be made without tax consequences
  • For those who have maximized their contribution room in their RRSP and would like an additional way to invest in a tax advantaged way
  • For people worried that investment income will affect their income tested government benefits like Old Age Security (OAS), the Guaranteed Income Supplement (GIS) and the Canada Child Tax Benefit.  TFSA withdrawals have no impact on the eligibility of these types of benefits

How Does the TFSA Work

  • Any investment income earned in a TFSA in Maple Ridge is tax-free
  • Contributions to a TFSA are not tax deductible
  • Withdrawals from a TFSA are tax free
  • The annual contribution limit to a TFSA as of January 2013 is $5500 per year. This is an increase from the annual limit of $5000 per year from years 2009 through to 2012
  • Neither income or withdrawals in a TFSA will affect the eligibility for government income tested benefits like Guaranteed Income Supplement, Old Age Security and the Canada Child Tax Benefit

Note: for all of the important full details on Tax-Free Savings Accounts (TFSA's) please visit the CRA website at http://www.cra-arc.gc.ca/tfsa/

At Manion & Associates Financial Services we have been helping people with their Tax-Free Savings Accounts (TFSA's) in Maple Ridge since their inception in 2009. As a full service financial planning firm we have access to a wide variety of investment, insurance and deposit options that can be held inside a TFSA in Maple Ridge. Having this flexibility allows us to use the product that best suits your individual situation.

More Info On TFSA's

For more information on how a TFSA in Maple Ridge and Pitt Meadows can benefit you, please call us at 604-463-6060.