The Government of Canada,in its 2008 budget,proposed a new account called a ________,which would expand the opportunity for Canadians to have investments with no application of personal taxes.

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The Tax-Free Savings Account (TFSA) was introduced in the 2008 budget of the Canadian government. It is a savings account that allows Canadians to earn investment income with no tax implications. This means that any growth or income earned within the account, whether it be from interest, dividends, or capital gains, is not subject to personal income tax. The TFSA has become a popular investment option for Canadians, with contribution room increasing each year and the ability to withdraw funds at any time without incurring taxes. The other options listed are registered accounts that have specific purposes (retirement savings, education savings, and income trusts) and do not offer the same tax advantages as a TFSA.

The Government of Canada,in Its 2008 Budget,proposed a New Account