Who can open a Tax-Free Savings Account (TFSA)?
A TFSA can be opened by any Canadian resident who is at least 18 years old. To open an account, you must also have filed taxes in the year before contributing to your TFSA. Important Note: If you are a resident of British Columbia, Nova Scotia, New Brunswick, Northwest Territories, Yukon, Nunavut, Labrador and Newfoundland, you can contribute to a non-registered Mutual Fund when you are 18 and can only invest in a Mutual Fund TFSA when you turn 19.
