Registered Plans


Save for a specific goal or to help boost your retirement savings.

What is a TFSA?

A Tax Free Savings Account (TFSA) is a registered investment account, available to Canadians 18 years and over, that lets your earnings grow tax free. Unlike an RRSP, contributions are not tax deductible, meaning you don’t pay any tax on withdrawals.

Why invest with Alterna?

How to make the most of your TFSA

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  • Start Early - The earlier you start investing in a TFSA, the more time your money has to grow tax free.

  • Contribute the max - TFSA contribution room can be carried forward, so your unused available balance builds each year. For this year’s limit, check the CRA’s TFSA Savings Account Guide for Individuals.

  • Choose the right investments - It’s important to consider the right mix of investments. Our advisors can help you select an appropriate mix based on your risk tolerance and investment horizon.

Ways to Invest

Personal Banking

Our advisors can help you purchase or renew your investments over the phone or in branch so you can achieve your financial goals.


Our advisors provide access to comprehensive, customized financial management built through integrity, ethics and responsibility.


Bank anywhere with our online banking options. Buy or renew GICs/Term Deposits online or set up transfers.


Tap into timely insights and tools to invest with confidence in all market conditions with Qtrade® Direct Investing TM.



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TFSA Pitfalls to Avoid

Tax-Free Savings Accounts  have lots of benefits, but there are a few common mistakes that could cost you.

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A Pocket Guide to TFSAs and RRSPs

You’ve heard of both a Tax-Free Savings Account and Registered Retirement Savings Plan. Here are the key differences between these two accounts.

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Why You Should Have a TFSA

A Tax-Free Savings Account is a great tool for both short and long term savings.

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How can we help?


Frequently Asked Questions

All Canadians 18 years and over with a valid Social Insurance Number may hold a TFSA. There’s no maximum age for holding a TFSA, so seniors can continue to contribute to a TFSA even after they are required to convert their RRSP into an income option.

The Canada Revenue Agency (CRA) sets the annual TFSA contribution limit. As your annual contribution room can be carried forward, and contributions are not tied to income, you can contribute up to the maximum limit for every year since the product was launched in 2009 (or from the year in which you turned 18). The annual limit for 2022 is $6,000.

Visit the CRA website for a full breakdown of annual contribution limits. 

You are allowed to contribute up to the annual limit set each year by the CRA, plus any past year’s unused contribution room. It’s important, however, not to contribute above your allowable limit. The CRA will charge you 1% each month on any excess amount that remains in your account.

You are allowed to withdraw funds from your TFSA tax free at any time. The only exception would be if the funds are invested in a term deposit that needs to be held until its maturity date. You are also allowed to recontribute the amount of your withdrawal any time after the start of the following year.

A TFSA can hold a variety of investments, including:

  • Savings Accounts
  • Term Deposits & MarketTracer® Term Deposits
  • Mutual Funds
  • ETFs
  • Stocks
  • Bonds

No, TFSA contributions are not tax-deductible.

Yes. You are allowed to hold multiple TFSA accounts, so long as the total value of the accounts does not exceed your overall contribution limit.

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