Talk:Tax-Free Savings Account

Comparison

As I read through this article, I'm wondering what value the Offerings and Comparison sections add. From the history, they were added back in 2009 when TFSAs were still in their infancy and not much was known about who would offer them and how. Do these sections still have relevance? --Peculiar Investor 14:01, 17 February 2012 (MST)

Anyone? Tagging article with {{CleanupNeeded}} and plan to remove list of financial institutions and image of Carrick's article unless someone strongly objects.--Peculiar Investor 12:58, 26 November 2012 (MST)

I've deleted the whole comparison section as it was based on a six year old (out of date) G&M article, and the RFD link is broken. Here it is:

Fees for RRSPs and TFSAs from various suppliers have been compared by Rob Carrick.

Current comparisons are available at RedFlagDeals.com

When comparing institutions, check very carefully. Start first with your objectives. For example, if you wish to use a pre-authorized purchase plan(PPP) to invest $25/month into TD Monthly Income, you will not be able to use RBC because RBC only offers a $25 PPP on RBC funds. And the product offered by a brokerage may not have the same fee structure as that of the same institution's bank. For example, although both allow one free withdrawal per month, TDWaterhouse charges $25/withdrawal thereafter while TD Canada Trust charges $5/withdrawal thereafter.

--Quebec 16:52, 6 January 2016 (MST)

Reader feedback: Should this page be moved to lower case?

Blbarnitz posted this comment on 22 November 2013 (view all feedback).

Should this page be moved to lower case?

Any thoughts?

Per the Manual of Style, Article titles should use sentence case and therefore I concur. Peculiar Investor 09:13, 24 November 2013 (MST)

Upon further review, a number of Canadian government sites that I checked (Tax Free Savings Account (TFSA), The Tax-Free Savings Account and RC4466 - Tax-Free Savings Account (TFSA), Guide for Individuals) seem to consistently use Tax-Free Savings Account as the proper name. I did find some minor inconsistencies where government sites used all lower case. The Wikipedia article (Tax-Free Savings Account - Wikipedia, the free encyclopedia) is also capitalized. Need to research a bit further before making any other changes to the article title. --Peculiar Investor 19:02, 24 November 2013 (MST)

Wikipedia is not an authoritative source. However, it references the CRA (Tax Free Savings Account (TFSA)) which is consistent with your findings. --LadyGeek 21:44, 24 November 2013 (MST)

Over-contribution rule

Please review the Notice template containing "The over-contribution rule continues to catch Canadians unaware." The cited source TFSA withdrawal rule keeps catching unwitting Canadians discusses replacement of money after a withdrawal is made. Without further context, I would think this notice applies to the Contribution limits section.

Can this template be moved to the Withdrawals section with additional clarification on what, exactly, catches Canadians unaware? The cited article does not explain the details.

Also note the article is from 2014. Does it still apply?

--LadyGeek 14:59, 3 December 2021 (MST)

Have a look at what I've done with the notice.--Quebec 07:36, 4 December 2021 (MST)

Better, as it clearly contains everything you need to know about the over-contribution rule. When reading the article for the first time, I only saw the notice and missed the introductory explanation (the previous paragraph). As a new investor, those concepts are very difficult to understand at the start of the article. With the additional description in the Over-contributions section, I think the Notice template can be moved to the Over-contributions section, simplified, then consolidated with the existing description. For example:

===Over-contributions===

Over-contributions often result when a withdrawal has been made. Withdrawals from your TFSA in the year will only be added back to your TFSA contribution room at the beginning of the following year. If you decide to replace or re-contribute all or a portion of your withdrawals into your TFSA in the same year, you can only do so if you have available TFSA contribution room. If you re-contribute but do not have contribution room, you will have over-contributed to your TFSA in the year.

One should be aware of how over-contribution, also known as an excess TFSA amount, is defined....

The TFSA contribution rules...

--LadyGeek 12:11, 4 December 2021 (MST)

Done--Quebec 14:09, 4 December 2021 (MST)

External links

The external links list a lot of banks and brokerages (who presumably offer TFSAs). More than a decade after the start of the TFSA program, is that still nedded? I assume that we don't list institutions that offer RRSPs or non-registered acccounts... I suggest we delete this list (instead people can find similar lists in the discount brokerage article, the HISA article, etc.).--Quebec 08:27, 4 December 2021 (MST)

Good point and therefore Done --Peculiar Investor 10:14, 4 December 2021 (MST)