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HSBC InvestDirect offers you a full range of account types to suit your investment needs. Click to learn more, or, call our HSBC InvestDirect Client Service Centre for service in English, French, Cantonese, or Mandarin.
Tax-Free Savings Accounts (TFSAs)
Maximize your earnings with a TFSA and pay no Canadian tax1 on the income, dividends or capital gains with a Tax-Free Savings Account (TFSA). Your unused contribution room is carried forward indefinitely. Withdraw funds at any time, for any reason, and those funds are not subject to income tax.
Take advantage of the industry leading tools and market intelligence of HSBC InvestDirect to create and manage your investments of choice for your TFSA. Access a wide variety of investments including: GICs, stocks, bonds, and over 1,200 mutual funds.
An HSBC InvestDirect TFSA is your tax-free savings option for:
- Any financial goal – a car, home renovations, or starting a new business.
- Contributions after reaching your RRSP maximum for the year.
- Mandatory Registered Retirement Income Fund withdrawals.
Open a Tax-Free Savings Account now.
Registered Retirement Savings Plans (RRSPs) & Registered Retirement Income Funds (RRIFs)
After a lifetime of working, you want to enjoy your retirement—without having to worry about money. To reach that long-term financial goal, you need the right investment strategy.
Registered Retirement Savings Plan (RRSP)
An RRSP builds the wealth you’ll need to finance retirement. The tax-deferred growth of an RRSP means your investments grow more quickly than outside a retirement plan, where investment returns are taxed.
Registered Retirement Income Fund (RRIF)
When it’s time to use the money you’ve accumulated for your retirement years, a Registered Retirement Income Fund (RIF) is the ideal tool to provide the regular income stream that you need, while continuing to shelter your investment principal from income tax.
Self-directed RRSP / RRIF Accounts
A self-directed RRSP or RRIF from HSBC InvestDirect provides you with
- Maximum flexibility and control to manage your retirement savings.
- The same low commission rates we offer on non-registered accounts.
- A variety of methods to contribute easily to your account.
- No annual fee—for accounts with a portfolio value of $15,000 or more.
Open a Registered Retirement Savings Plan or Registered Retirement Income Fund account now.
Registered Education Savings Plans (RESPs)
Start saving now for a child’s future post-secondary education with an RESP and take advantage of tax-deferred growth and the Canadian Education Savings Grant (CESG)
- Contribute any amount, anytime, up to a lifetime contribution limit of $50,000.
- The Government of Canada offers a Canada Education Savings Grant (CESG) by matching 20% of your eligible RESP contributions, up to a maximum of $500 per beneficiary per year up to $7,200 per beneficiary for the life of the plan. Additional CESG may apply. Learn more.
HSBC InvestDirect Family RESP
A Family RESP allows you to name one or more beneficiaries, though each beneficiary must be connected to you by blood or adoption and have been under the age of 21 when named to the plan. The CESG limits are calculated for each beneficiary individually.
Family plans allow you to select any or all of your named beneficiaries to receive some or all of the earnings and Canadian Education Savings Grant up to each of their maximum grant limit.
Invest in a child's future.
Open a Registered Education Savings Plan now.
Locked-in Retirement Accounts / Locked-in Retirement Savings Plans (LIRAs/LRSPs)
When you switch employers, you can transfer your pension funds into a LIRA account. While no further contributions can be made, a LIRA allows you to gain control of these funds until your retirement.
Open a Locked-in Retirement Account / Locked-in Retirement Savings Plan.
Life Income Funds (LIFs)
Transfer your LIRA or pension funds2 into a LIF when you retire. These funds will remain sheltered until you make your prescribed withdrawals each year.
Locked-in Retirement Income Funds (LRIFS)
LRIFs offer an alternative solution when you are ready to retire. LIRAs can be transferred into a LRIF2, then you can make your prescribed withdrawals each year
1 Only Canadian residents, who are over 18 years of age and have a valid Social Insurance Number, can make contributions to a Tax-Free Savings Account (TFSA). Annual contributions to TFSAs are subject to specific limits. Generally, the maximum contribution room for a year is equal to the total of unused TFSA contribution room from previous years, withdrawals from TFSAs made in previous years and TFSA dollar limit for the year in question ($5,000 which may be increased for inflation).. The 2010 TFSA dollar limit is anticipated to be $5,000. The maximum annual contribution applies to all of your TFSAs held with HSBC or any other financial institution. Provided that contribution limits are not exceeded, income earned in a TFSA is not subject to Canadian taxes. Taxes of other countries may apply. Excess contributions to your TFSA are subject to taxes, interest and penalties. Unlike an RRSP, any money you contribute to a TFSA will not itself be tax-deductible.
The content herein is not intended to provide specific tax advice and should not be relied upon in this regard. HSBC makes no guarantee, representation, or warranty and accepts no responsibility or liability as to the tax treatment of these services. For full details about TFSAs and how they relate to your own income tax and financial situation, please consult your personal tax advisor.
2 Subject to the pension legislation governing lock-in funds. May vary from province to province. Other conditions may apply.
1 HSBC InvestDirect is a division of HSBC Securities (Canada) Inc.
2 HSBC Premier eligibility requires you to have an active Premier chequing account and maintain a $100,000 balance in combined personal deposits and investments with HSBC Bank Canada and its subsidiaries. Monthly banking package fees may apply.
3 Available on online equity trades on North American markets. Subject to conditions. For more information on HSBC InvestDirect rates, visit www.investdirect.hsbc.ca.
4 International Equity trades made online, excluding Hong Kong, and all international trades placed on the phone qualify for the International Equities trade discount. Subject to minimum commission.
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