Registered investment accounts
TFSAs, RRSPs, RESPs, and RRIFs offer specific benefits, including tax deferrals or grants, based on your needs, goals, contributions and personal circumstances. Each registered account can hold a variety of financial products, including investments and deposits.
Tax-Free Savings Account1
An account that lets your savings grow tax-free.
- An ideal all-purpose investment account, suited for short- and long-term financial goals
- Can also be used to supplement retirement and education savings with tax-free income
- Contributions are subject to an annual contribution limit of $6,000 for 2022. Lifetime limits also apply
- Unused contribution room from prior years may be carried forward indefinitely, and prior year withdrawals may be re-contributed
- Consider setting up a plan to invest regularly and maximise your contributions each year
Invest online with advice
Not sure where to start?
Consider opening a non-registered account if you’ve maxed out your contribution room in registered accounts or are not eligible to open one.
Non-registered accounts may be held jointly with two or more account holders. They are suitable for a variety of investment objectives and have no contribution limits.
Generally, you pay taxes on income and capital gains and may be able to deduct certain costs associated with investing. Consult your personal tax adviser for more information.
Open a non-registered account online with HSBC Wealth Compass or HSBC InvestDirect.
Published by HSBC Investment Funds (Canada) Inc., March 2021.
1 Investment income and capital gains earned in a Tax-Free Savings Account (TFSA) are generally not subject to Canadian taxes. However, contributions in excess of allowable TFSA contribution room will be subject to a tax. Taxes of other countries may apply. Contributions to TFSA are subject to limits, which may vary depending on your situation and can be found on your CRA MyAccount webpage. Generally, the maximum contribution room for a year is equal to the total of unused contribution room from the previous year, plus withdrawals made in the previous year and the TFSA dollar limit for the year (annual limit of $5,000 for 2009 through 2012, $5,500 for 2013 and 2014, $10,000 in 2015, $5,500 for 2016 through 2018 and $6,000 in 2019 to 2022, with the limit to be adjusted to the nearest $500 to account for inflation in subsequent years). The maximum annual contribution applies to all of your TFSAs held with HSBC Bank Canada or any other financial institution. Only Canadian residents, who are over 18 years of age and have a valid Social Insurance Number, can make contributions to a TFSA. The age of majority is 19 for residents of Newfoundland & Labrador, New Brunswick, Nova Scotia, British Columbia, Northwest Territories, Yukon and Nunavut, which may delay the opening of a TFSA. However, the accumulation of contribution room will start at age 18. For full details about TFSAs and how the relate to your own income tax and financial situation, please consult your personal tax advisor.
2 HSBC Investment Funds (Canada) Inc. (“HIFC”) is a direct subsidiary of HSBC Global Asset Management (Canada) Limited (“AMCA”) and an indirect subsidiary of HSBC Bank Canada, and provides its services in all provinces of Canada except Prince Edward Island. AMCA is a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada. HIFC has not independently verified the information and makes no guarantee or representation of, and accepts no responsibility or liability for, its accuracy or completeness.
AMCA is the manager and primary investment advisor for the HSBC Mutual Funds. HIFC is the principal distributor of the HSBC Mutual Funds. HSBC Mutual Funds are also distributed through authorized dealers. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus and Fund Facts before investing. Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer. The net asset values of all mutual funds, including the HSBC Mutual Funds, change frequently and any past performance may not be repeated. For money market funds, there can be no assurances that such funds will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.
™ HSBC Wealth Compass is a trademark of HSBC Group Management Services Limited. HSBC Wealth Compass is an online service offered by HIFC which allows clients to discover their investor profile, receive a personalized investment recommendation and apply to start investing in mutual funds.
3 HSBC World Selection® Portfolio is a portfolio investment service offered by HSBC Investment Funds (Canada) Inc. ("HIFC"). In this service, a client’s assets are invested in model portfolios. The model portfolio is comprised of investments in the HSBC Mutual Funds and/or HSBC Pooled Funds, which are mutual funds managed by AMCA and distributed by HIFC. AMCA provides discretionary investment management services to the portfolios in the HSBC World Selection Portfolio service.
Commissions, trailing commissions, management fees, investment management fees and expenses all may be associated with investments in the HSBC Mutual Funds, HSBC Pooled Funds and/or the HSBC World Selection Portfolio service. Please read the applicable account opening documentation associated with HSBC World Selection Portfolio, the prospectus, Fund Facts and other disclosure documents of the HSBC Mutual Funds and the HSBC Pooled Funds in which investment may be made under HSBC World Selection Portfolio service before applying for the HSBC World Selection Portfolio service. The HSBC World Selection Portfolio service, the HSBC Mutual Funds and the HSBC Pooled Funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer or financial institution, their values change frequently and past performance may not be repeated. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.
® World Selection is a registered trademark of HSBC Group Management Services Limited.
4 HSBC InvestDirect offers self-directed on-line access to North American and global equities from 30 domestic and global markets, options, third-party and proprietary mutual funds, and fixed income products.
HSBC 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 Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. HSBC InvestDirect does not provide investment advice or recommendations regarding any investment decisions or securities transactions.
All products and services of HIFC and AMCA are only available for sale to residents of Canada, unless the laws of a foreign jurisdiction permit sales to its residents. Please contact your HSBC Mutual Fund Advisor for more details. The contents of this site should not be considered an offer to sell or a solicitation to buy products or services to any person in a jurisdiction where such offer or solicitation is considered unlawful.
This material is for information purposes only and is not intended to provide specific financial, legal, tax, investment or other advice, and should not be relied upon in that regard. You should not act or rely on the information without seeking the advice of a professional. Please consult your tax advisor to find out which strategies best suit your tax situation. Registered plans for individuals are subject to specific limits, tax implications and restrictions which can be found on the CRA Savings and pension plans webpage.
References to the 'HSBC Group' are references to HSBC Holdings plc its subsidiaries and affiliated companies. HSBC Holdings plc is a public limited company registered in England and Wales under Company Register Number 617987 and with its registered office at 8, Canada Square, London, England E14 5HQ.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC Investment Funds (Canada) Inc.