Are you Paying Too Much Tax?

How many of you have a savings account? Hopefully most of you do. Now, wouldn’t it be nice if there was a way that your savings account was a tax free savings account?

75% of Canadians feel they pay too much tax. Are you in that cross section? Imagine there was a way where you could save on taxes. I know you’re thinking of RRSP’s, but that’s a tax deferral. Once the time comes when you need your money, the government is going to dip their hands back in your pockets and take their share. Not that there is anything wrong with deferring taxes to a later date when you’re in a lower tax bracket for retirement.

However, what if all the money you deposit is completely sheltered from taxes? Even once you withdraw your funds it was still tax free! Including any earned interest, dividends or capital gains! Well, the good news is here! Starting January 2nd 2009 this absolutely remarkable opportunity becomes available in Canada. You can start saving up to $5,000 per year in your own Tax Free Savings Account! (TFSA)

The benefits are utterly amazing. For example, not everyone saves money every year. So like RRSP’s if you miss a year, your contribution room for that year carries forward to the following year. (If in 2009 you didn’t have any savings, $5,000 carries forward and in 2010 your eligibility is now $10,000)

If you would like to sit down to discuss this incredible opportunity send me an email at Scott.Wain@Investorsgroup.com - For more informaition click here!