In a previous blog, I opened up the debate on whether it is of value for employers to offer the Tax-Free Savings Account (TFSA) to their employees as another savings vehicle. Since that posting, I came across an interesting piece of information about the TFSA that I thought I’d pass along.

In June, the Ontario government passed legislation allowing TFSA owner’s funds to pass to their heirs at the time of death. Beneficiaries would receive the proceeds outside of a will, similar to the way they would receive registered retirement savings plans. The majority of provinces and territories have passed similar legislation.

I hope you found this little tidbit of value. Have a great Canada Day.