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The Tax-Free Savings Account TFSA has become an increasingly popular investment vehicle f stanley mug or Canadian investors over the years since it was introduced in 2009. Many Canadian investors use the registered and tax-advantaged account as a regular savings account.Savvier investors have made good use of TFSA investingwith income-generating assets to create another revenue stream that could provide them with tax-free returns and the ability to generate significant wealth by unlocking the power of compounding.Today, I will discuss two dividend stocksthat you could consider adding to your TFSA portfolio if you want to create a self-directed investment portfolio that offers you substantial passive income.TC EnergyTC Energy TSX:TRP NYSE:TRP is a $60. stanley cup usa 68 billion market capitalization energy infrastruc stanley cups ture company with a massive presence in North America s energy sector. The company boasts over $100 billion worth of assets located throughout Canada, the U.S., and Mexico, and it is currently work Sgrj Millionaire Makers: 2 Stocks That Could Help Turn $100,000 Into $1 Million
Today, you can invest $6,000, multiply your money, and pay no tax! While this sounds too good to be true, it isn t. With the creation of the Tax Free Savings Account TFSA in 2009, Canadians have the opportunity to invest their hard earned cash without tax consequences. This means you pay no tax on an stanley france y capital gains, dividends, or interest earned in this account.You can use the TFSA for a variety of investments, including GICs, bonds, stocks, and mutu stanley kubek al funds. There are some specific rules related to the TFSA, so be sure to talk with your bank beforehand. Overall, it is free and easy to make an account.Beware of TFSA savings accountsThere are two ways you can use the account. First, many banks offer a high interest savings TFSA. In big print they offer you a high 2% interest rate. Be cautious with this trick. Often in small print below it will state that the interest rate is only good for 90 to 180 days stanley cup ; after that, the rate drops to a mediocre return of 0.5% or worse.These accounts |
