TFSA Accounts, Tax Free Savings Accounts | HSBC Canada



TFSA accounts

Save for a specific financial goal by maximizing your earnings with a Tax Free Savings Account (TFSA) and pay no Canadian tax1 on the interest, investment income, and capital gains.

With online tools and the market intelligence of HSBC InvestDirect2,
you select and manage your own TFSA investments:

  • Maximize flexibility and control of your personal savings
  • Get the same low commission rates as non-registered accounts
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  • Build your TFSA account with a wide variety of investments including GICs, stocks, bonds, and over 4,000 mutual funds
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  • Make contributions directly from your HSBC InvestDirect cash account without diminishing the value of your existing investments

1Only 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). The annual contribution limit to TFSAs is set by the CRA and may be subject to changes. 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. 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.

2HSBC InvestDirect is a division of HSBC Securities (Canada) Inc., a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada. HSBC Securities (Canada) Inc. is a member of the Canadian Investor Protection Fund.

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