TFSA trans­fer date post­poned

Weekend Argus (Saturday Edition) - - FRONT PAGE -

Fi­nance Min­is­ter Pravin Gord­han has again post­poned the date on which you will be able to trans­fer a tax-free sav­ings ac­count (TFSA) from one provider to another.

When TFSAs were in­tro­duced in March last year, providers were given a year to make it pos­si­ble for you to switch your ac­count from one provider to another. This dead­line was post­poned to Novem­ber 1, and this week the min­is­ter post­poned the date to March 1 next year.

Gord­han also pub­lished up­dated draft reg­u­la­tions mak­ing it clear that providers are still not al­lowed to charge per­for­mance fees on TFSA in­vest­ments and re­lax­ing the rules about ac­cess­ing money in a fixed­de­posit TFSA.

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