1 First Canadian Place
40th Floor , P.O. Box 150
|In the 2008 Federal Budget, the Government of Canada announced the creation of a new Tax-Free Savings Account (TFSA). Beginning in 2009, individuals residing in Canada, who are 18 years of age and older, can contribute up to $5,000 per year to a TFSA where the holdings grow and earn income tax-free. However, individuals must be the age of majority in their province to open a TFSA with BMO Nesbitt Burns.