You can hold qualified investments like cash, stocks, bonds, mutual funds in a TFSA and can withdraw contributions as well as the interest, capital gains, and dividends earned in the account at any time1, without paying taxes (or reporting the withdrawals as income when you file your taxes).
Each year, the Government of Canada determines the maximum amount a holder of a TFSA can contribute to it in that year. This limit is known as the contribution limit. The contribution room begins to accumulate every year, if any time beginning in the calendar year a Canadian resident is 18 years and older. If you don't contribute up to the contribution limit for a given year, this amount is carried forward and is added on to your contribution room for future years.
Learn more aboutcontribution limits and withdrawal rules.
