Harry and Supriya are in their 30s, Harry works in financial services and Supriya is a small business owner. They have Ryan 2-year-old boy and Supriya is pregnant with another Baby. 

 

Harry and Supriya want to understand different types of investment accounts that they can open. Explain them features of TFSA, RRSP, RESP, FHSA and non-registered account and show them how these accounts can be used taking a hypothetical example use goals like Retirement, Education, First house purchase etc. 

 

Topics to be covered for each account: 

How does taxation for the account work?

Explain the deductions /credits / tax free status.

Investments that can be added

How does withdrawal from the account work?

Explain the account with an example (include numbers)?

 The process to open these accounts for yourself.

Answer rating: 100% (QA)

Sure lets go through the features of each investment account and how they can be used in different scenarios for Harry and Supriya TaxFree Savings Account TFSA Features Contributions are made with aft... View the full answer