TORONTO, Oct. 9 /CNW/ - With the launch of the Tax-Free Savings Account
only three months away, RBC is offering pre-registration and advice through
its branch and telephone banking network.
"The TFSA is unlike anything Canadian investors have seen before and will
be an important investment vehicle for Canadians looking to save money and
minimize their taxes," said David Birkbeck, head, registered products
strategy, RBC. "Whether part of a long term savings strategy or to meet a
short term financial goal, RBC is available to help clients understand how
they can get the most benefit from the TFSA."
Within the TFSA, RBC clients will have access to a wide variety of
investment options including RBC Funds, RBC GICs (Non-Redeemable, Redeemable,
Canadian Market-Linked, Global Market-Linked) and RBC Savings Deposits. Plus,
there will be no annual administration or withdrawal fees. Clients will also
have the opportunity to make regular, pre-authorized contributions through
The Tax-Free Savings Account (TFSA) is a new registered account that was
introduced by the Federal Government in the 2008 Budget and will be available
starting January 2009. The TFSA will be available to all Canadian residents,
18(*) and older, with a Social Insurance Number and allows eligible Canadians to
contribute up to $5,000 each year.
Canadians wishing to learn more, get advice or preregister for a Tax-Free
Saving Account can do so through Royal Direct 1-800-463-3863 or through
booking an appointment at their local RBC branch.
For more information on the Tax Free Savings account, please visit:
(*) The age of majority is 19 in certain provinces and territories, which
may delay the opening of a TFSA. However, the accumulation of
contribution room will start at age 18.
For further information:
For further information: Sarah Pendrith, (416) 974-8820