Wednesday, October 21, 2009

21% of Canadians sign up for tax free savings in 6 mos

Hey Pres and Congress, want to increase savings?

Toronto, ON – Canadians are embracing the new tax-free savings accounts, with an Ipsos Reid/Investor Economics report revealing that as of June, 2009—just six months after Canadians began to be allowed to open TFSAs—about 1 in 5 households (21%) have opened a TFSA. According to the report, there are roughly 3.6 million accounts now open, holding $12.4 billion in assets.