Tax Free Savings Account definition

Tax Free Savings Account means the account established for a Vested Participant pursuant to Section 5.01 on terms acceptable to the Corporation that is a “qualifying arrangement” for purposes of subsection 146.2(1) of the Tax Act.

Tax Free Savings Account or “TFSA” means a tax-free savings account, as defined in subsection 248(1) of the Federal Tax Act;

Tax Free Savings Account or “TFSA” means a Contract elected under the Income Tax Act to be registered as a tax-free savings account;

Examples of Tax Free Savings Account in a sentence

• How much you pay depends on the tax laws of where you live and whether you hold the fund in a registered plan, such as a Registered Retirement Savings Plan or a Tax- Free Savings Account.

• How much you pay depends on the tax laws where you live and whether or not you hold the fund in a registered plan such as a Registered Retirement Savings Plan, or a Tax- Free Savings Account.

• Examples: income earned as a person registered under the Indian Act on a First Nations reserve, scholarships/bursaries not included in your Canadian taxable income, lottery winnings, gifts, inheritances, life insurance awards, strike pay, interest earned on a Tax Free Savings Account (TFSA) and child support received.Enter amount in Canadian dollars.

• NBCUDIC insures eligible deposits under the following circumstances:• accounts held in one name;• accounts held in trust for someone else;• deposits held jointly in two or more names;• eligible deposits that are held in a Tax Free Savings Account (TFSA).

• For greater certainty, each Participant is solely responsible for any taxes, penalties and other charges that are imposed in the event that the amounts paid or credited to the Participant’s Tax Free Savings Account or Registered Retirement Savings Plan in a Plan Year exceed the “TFSA dollar limit” or “RRSP Deduction Limit”, as the case may be, for such Plan Year, and the Corporation shall not be responsible for any such taxes, penalties or other charges.

More Definitions of Tax Free Savings Account

Tax Free Savings Account means a deposit held in a tax-free savings account;

Tax Free Savings Account means the Ashburton Tax Free Savings Account.

Tax Free Savings Account at any time means an arrangement accepted as such at that time by the Minister of National Revenue for the purposes of the Income Tax Act, in accordance with subsection 5 of section 146.2 of that Act;”.

Tax Free Savings Account. (TFSA) means, in accordance with the definition of “qualifying arrangement” as given in section

Tax Free Savings Account or “TFSA” means a Contract elected under the Income Tax Act and established as a tax-free savings account for tax purposes;

Tax Free Savings Account has the meaning assigned under the Income Tax Act.

Tax Free Savings Account means a Sasfin savings account that allows You to contribute up to R36 000 a year and up to R500 000 in Your lifetime (as may be amended from time to time), where no tax is to be paid on any interest earned;