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Canadians Embracing Tax-free Savings Accounts

As of the end of June, about 1 in 5 Canadian Households (21%) have opened a TFSA

October 20, 2009

Contact Michael Hsu at (416) 572-4406

Category Finance & Economy
Location Canada


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For more information, contact:
Michael Hsu at (416) 572-4406

Toronto, ON – Canadians are embracing the new tax-free savings accounts, with an Ipsos Reid/Investor Economics report revealing that as of June, 2009—just six months after Canadians began to be allowed to open TFSAs—about 1 in 5 households (21%) have opened a TFSA. According to the report, there are roughly 3.6 million accounts now open, holding $12.4 billion in assets.