Registered Education Savings Plan (RESP)
Earnings within an RESP are not taxed. When the funds are taken out for education, withdrawals are taxed in the student’s hands, often resulting in little or no tax.
Registered Retirement Savings Plan(RRSP)
An RRSP is a registered investment accounttooltip that lets you save for your retirement by deferring taxes on your investment earnings. This means more of your money.
Tax-Free Savings Account (TFSA)
A Tax-Free Savings Account (TFSA) is a powerful registered investment account you can use to save for any big-ticket item or goal – tax free. If you like more flexibility and less taxes.
First Home Savings Account (FHSA)
If you’re at least 18 (and no less than the age of majority in your province), have a Social Insurance Number (SIN) and have not owned a home where you lived this year or at any time .
Compare TFSA vs RRSP vs FHSA
Wondering if a TFSA, RRSP or FHSA may be right for you? Discover how each of these accounts can help you reach your goals—and remember, you don’t have to pick just one!
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