Give to others, reduce your taxes

Your Tax Free Savings Account (TFSA) is a self directed plan, managed by Concentra Financial and invested in a King’s mortgage.”

The 2016 annual contribution limit is $5,500.

The Self Directed TFSA is governed by a Declaration of Trust and a fee schedule.  King’s pays the annual administration fees for plans valued at $10,000 or higher in December each year. Interest is set at the beginning of each quarter-year based on current rates as a benchmark.  Interest is compounded and credited on a quarterly basis.

The current TFSA interest rate, effective January to March 2017, is 1.85%.