What the New Tax-Free Savings Account Means for Investors

    BMO Experts Available to Comment on Budget Announcement

    TORONTO, Feb. 27 /CNW/ - BMO Financial Group has experts available this
week to comment on the new Tax Free Savings Account (TFSA) that was announced
in yesterday's budget.
    The TFSA will allow Canadians to invest up to $5,000 tax free outside
their RSP starting in 2009. The TFSA will allow savings to accumulate free of
taxes on interest, dividends and capital gains. All withdrawals from the TFSA
(including income and capital gains) will be received tax- free. Unused
contribution room can be carried forward to future years. When amounts are
withdrawn, the carry forward contribution room will be increased by the amount
of the withdrawal.

    BMO experts can discuss:
    -   How TFSAs work
    -   Benefits of contributing to a TFSA
    -   How TFSAs differ from RSPs and the complementary role they play
    -   Who should consider contributing to a TFSA

For further information:

For further information: JoAnne Hayes, Toronto, joanne.hayes@bmo.com,
(416) 867-3996; Lucie Gosselin, Montreal, lucie.gosselin@bmo.com, (514)
877-1101; Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596;
Internet: www.bmo.com

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