This is the best investment option the Government of Canada has introduced in many years.
Each year, starting in 2009 you are allowed to deposit $5,000 to a TFSA. This is a cumulative benefit, you can wait 3 years if you choose and contribute $15,000 in that year. These are very flexible accounts and can hold all 3 investment options, funds, mortgages, and real estate.
In a tax planning world these will be your last funds spent, as for every year the funds grow tax-free which is better than a taxed year of competing investments.
