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Tax Free Savings Account

Virtual One is preparing to offer you the new TFSA in January 2009. The launch of the TFSA provides you with an opportunity to earn interest income without paying taxes.

Some information on the new TFSA

On June 18, 2008, the Government of Canada approved legislation to introduce a ground-breaking Tax-Free Savings Account (TFSA) in 2009. The purpose of the TFSA is to provide a savings vehicle for individuals to earn tax-free investment income.

The Deposit Insurance Corporation of Ontario (DICO) protects and insures your Canadian Dollar Deposits up to $100,000.00. Visit www.dico.com for full details.

Features of this new registered product: Available to Canadian residents age 18 and older

• Contributions will not be tax deductible
• Contributions may only be made by the owner
• Income earned and capital gains under a TFSA will be tax sheltered
• Withdrawal of contributions and/or income will not be subject to tax
• Maximum contribution limit for 2009 will be $5,000
• Unused contribution room may be carried forward and contributed in
• a future year Withdrawals (capital and income) will increase the unused
• contribution room