Sign in
  • Home
  • Crime
  • Provinces
    • Alberta
    • Ontario
    • Other
    • Ontario
    • Alberta
  • World
    • Others
    • others
    • South Asia
    • South Asia
    • Others
  • Lifestyle
    • Bollywood
    • Hollywood
    • Business/Finance
    • Health
  • Sports
  • Auto
  • Events
  • About
  • E-Paper
  • Directory
Sign in
Welcome!Log into your account
Forgot your password?
Privacy Policy
Password recovery
Recover your password
Search
Logo
Sign in
Welcome! Log into your account
Forgot your password? Get help
Privacy Policy
Password recovery
Recover your password
A password will be e-mailed to you.
Tuesday, May 17, 2022
Sign in / Join
Facebook
Instagram
Twitter
Vimeo
Youtube
Logo
  • Home
  • Crime
    • Breaking News

      Richmond RCMP: Body of man missing since February 20 found

      17 May 2022
      Breaking News

      Man arrested after unprovoked stranger assault at Sapperton SkyTrain Station

      17 May 2022
      Breaking News

      Fatal four-car collision in Vancouver

      16 May 2022
      Breaking News

      Alleged groper arrested after victims, witnesses in Vancouver call 9-1-1

      16 May 2022
      Breaking News

      Canadians say gun violence rising; prefer national policy over provincial regulations

      16 May 2022
  • Provinces
    • AllAlbertaOntarioOther
      Alberta

      Clash of South Asian mayors in Alberta!

      17 May 2022
      Breaking News

      3 South Asian men of Brampton face numerous firearm and drug-related charges

      14 May 2022
      Crime

      ONTARIO: Arrests of Navdeep Chauhan and Arshjot Singh prevent vehicle thefts

      12 May 2022
      Breaking News

      Ontario race tightens as writ drops: EKOS Poll

      11 May 2022
    • Ontario
      • Breaking News

        3 South Asian men of Brampton face numerous firearm and drug-related charges

        14 May 2022
        Crime

        ONTARIO: Arrests of Navdeep Chauhan and Arshjot Singh prevent vehicle thefts

        12 May 2022
        Breaking News

        Ontario race tightens as writ drops: EKOS Poll

        11 May 2022
        Breaking News

        ME THINKS! … Brampton Centre MP Shafqat Ali lands in deep doo-doo!

        9 May 2022
        Ontario

        Sardar Patel statue will become symbol of relationship between India, Canada: Modi

        1 May 2022
    • Alberta
      • Alberta

        Clash of South Asian mayors in Alberta!

        17 May 2022
        Alberta

        ALBERTA: Six boys and a girl charged with murder in death of 16-year-old Karanveer Sahota of Edmonton

        25 April 2022
        Alberta

        Packets mailed to Edmonton area mosques in apparent anthrax scare

        21 April 2022
        Alberta

        The Toors from California sentenced in Alberta for smuggling 84 kg of cocaine at Coutts, Alberta border

        18 April 2022
        Alberta

        Alim Feasal Hasan: Burnaby RCMP appeal for information in historical missing person investigation

        12 April 2022
  • World
    • AllOthersothersSouth Asia
      Breaking News

      WSO deeply concerned by killing of Sikh traders in Pakistan

      16 May 2022
      Breaking News

      Pope Francis will be in Canada from July 24 to 29; reactions to visit

      13 May 2022
      Breaking News

      Canada concerned with violence over protestors in Sri Lanka

      11 May 2022
      Breaking News

      Conservatives ask government to issue travel documents for Afghans fleeing Taliban

      10 May 2022
    • South Asia
      • Breaking News

        WSO deeply concerned by killing of Sikh traders in Pakistan

        16 May 2022
        Breaking News

        Canada concerned with violence over protestors in Sri Lanka

        11 May 2022
        Breaking News

        Conservatives ask government to issue travel documents for Afghans fleeing Taliban

        10 May 2022
        Breaking News

        ICCR filmmaking competition for Indian diaspora, and foreign students and alumni

        6 May 2022
        Breaking News

        B.C. proclaims May 23, 2022 as Komagata Maru Remembrance Day

        4 May 2022
    • Others
      • Breaking News

        Pope Francis will be in Canada from July 24 to 29; reactions to visit

        13 May 2022
        Breaking News

        Canadians supportive of government response to Ukraine-Russia conflict, but many say more is needed

        9 May 2022
        Breaking News

        Trudeau, Freeland and Joly visit Ukraine

        8 May 2022
        Breaking News

        ICCR filmmaking competition for Indian diaspora, and foreign students and alumni

        6 May 2022
        Breaking News

        Federal NDP says it stands in solidarity with women fighting for abortion rights

        3 May 2022
  • Lifestyle
    • Bollywood
      • Bollywood

        Raw Law: Vinay Pathak-starrer ‘420 IPC’ releases on Dec 17

        22 November 2021
        Bollywood

        Shahid Kapoor’s ‘Jersey’ poster smashes it out of the park!

        22 November 2021
        Bollywood

        Aryan Khan bail verdict on October 20, NCB paints him as a ‘junkie’

        14 October 2021
        Bollywood

        NCB accuses Aryan Khan and others of ‘illicit drug trafficking’

        13 October 2021
        Bollywood

        Cruiser rave party: Shah Rukh Khan’s son Aryan, 7 others arrested for drug use

        3 October 2021
    • Hollywood
    • Business/Finance
    • Health
  • Sports
    • Alberta

      Clash of South Asian mayors in Alberta!

      17 May 2022
      Breaking News

      VANCOUVER WHITECAPS FC 3 – SAN JOSE EARTHQUAKES 3

      14 May 2022
      Breaking News

      UBC’s Sukhman Sandhu selected by Fraser Valley Bandits

      19 April 2022
      Breaking News

      Celebrate BC Youth Week with fun, free activities in Surrey

      19 April 2022
      Breaking News

      Vancouver confirmed as candidate host city for FIFA World Cup 2026

      14 April 2022
  • Auto
    • Auto

      2022 Mazda CX-9 Signature: Luxury SUV Pampers!

      4 May 2022
      Auto

      Progressive and luxurious: the interior of the new Mercedes-Benz EQS SUV

      20 April 2022
      Auto

      2022 Ford Edge ST Line: Solid performer and value for  money.

      6 April 2022
      Auto

      Nissan and NISMO announce 2022 motorsports programs

      28 March 2022
      Auto

      2022 Hyundai Ioniq 5 Ultimate AWD: New EV breaks out with 488km of driving range and more!

      7 March 2022
  • Events
  • About
  • E-Paper
  • Directory
Home Finance/Business TFSA tops the list of investment plans for newcomers

TFSA tops the list of investment plans for newcomers

5 April 2018
Facebook
Twitter
WhatsApp
Email

    MANY newcomers indicate that they make it a top priority to purchase an investment product shortly after arriving in Canada. In fact, an RBC poll revealed that of newcomers living in Canada five years or less, 71% of them own an investment product, with a tax-free savings account (TFSA) being the most popular option at 40%.

    Opening up a TFSA is a good option for new Canadians who wish to invest shortly after moving to Canada. It is designed to help you save and invest money and the return you earn is tax free. You can withdraw funds whenever you need, making it a flexible way to save for your future goals. Additionally, you don’t need to have earned an income to be able to contribute to a TFSA. So newcomers can open up a TFSA and start saving right away.

     

    Here’s what you need to know about TFSAs:

     

    Eligibility

    As a newcomer, you benefit from the fact that you don’t need earned income to save or invest in a TFSA. There is, however, a maximum amount of money you can deposit into your TFSA each year. All Canadian tax residents who are at least 18 years of age have the same contribution room of up to $5500 a year. You must be the age of majority in your province of residence and have a valid Social Insurance Number to open an account.

     

    Contributions

    You don’t need to have the full $5,500 to get started. Unused contribution room accumulates and can be carried over from year to year.  If you withdraw from your TFSA, the full amount of your withdrawals can be put back in future years. Just be careful, as re-contributing in the same calendar year can result in an over-contribution that is subject to penalty tax.

     

    Tax Benefits

    Income earned and TFSA withdrawals are not included as income for tax purposes.  This means the TFSA offers a high degree of flexibility and will help to minimize your income tax. The money you deposit to your TFSA can help you achieve your short, medium or long term goals.

     

    A TFSA is a great way to help save for your future. Talking to a financial advisor can help you understand the benefits of a TFSA and the investment options available to you. To see how fast your savings can grow within a TFSA, check out RBC TFSA Calculator (rbcroyalbank.com/tfsa/tfsa-calculator.html). And for more newcomer advice, please visit RBC Newcomers Hub (rbc.com/newcomers).

     

    Facebook
    Twitter
    WhatsApp
    Email
      Previous articleBollywood star Salman Khan back in jail
      Next articlePedestrian dies following collision in East Vancouver
      posted by: Rattan Mall

      - Advertisement -






      E-Papers

      DESI TODAY MAGAZINE

      7 April 2021

      INDO CANADIAN BUSINESS PAGES

      7 April 2021

      Awaaz this week

      23 February 2021

      POPULAR POSTS

      Horgan and Dix meet with Doctors of BC reps

      17 May 2022

      Richmond RCMP: Body of man missing since February 20 found

      17 May 2022

      The Guru Nanak Institute of Global Studies is officially launched

      17 May 2022

      POPULAR CATEGORY

      • Breaking News14918
      • Top Stories10347
      • Crime5432
      • Headlines3713
      • World News2774
      • Ontario1320
      • South Asia1313
      Logo

      INDO-CANADIAN VOICE - ABOUT US

      ..............................One Community One Voice............................ Canada’s Largest Group of Indo-Canadian Publications "The Voice" Publisher of Voice Newspaper (English), Awaaz (in Punjabi) and Indo-Canadian print media Business Pages.

      Contact us: info@voiceonline.com

      FOLLOW US

      Facebook

      © Newspaper WordPress Theme by TagDiv

      • Home
      • Crime
      • Provinces
        • Ontario
        • Alberta
      • World
        • South Asia
        • Others
      • Lifestyle
        • Bollywood
        • Hollywood
        • Business/Finance
        • Health
      • Sports
      • Auto
      • Events
      • About
      • E-Paper
      • Directory
      MORE STORIES

      Horgan and Dix meet with Doctors of BC reps

      posted by: Rattan Mall - 17 May 2022 0

      Richmond RCMP: Body of man missing since February 20 found

      posted by: Rattan Mall - 17 May 2022 0