As an opportunity to generate tax-free income, a TFSA can be an important part of your investment plan.
With a TFSA:
Comparing Savings Vehicles TFSA versus a non-registered account Capital gains and other investment income earned in a TFSA are not taxed. So, if you contributed $5,500 a year for 20 years to a TFSA, you could enjoy a total tax savings of $57,050 over a non-registered account.
Comparing TFSAs and RRSPs TFSA