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Foundations · F5

Account Types

The same investment can be taxed differently depending on the account that holds it. This module explains how the TFSA, RRSP, RESP and FHSA work, along with accounts created for specific needs, such as disability savings or pension money from a former employer. It ends with three savers who have different goals, showing how each goal helps narrow the account choices.

By the end of this module, you’ll be able to:

  • Tell an investment account from the investments held inside it.
  • Compare when tax applies in a TFSA and an RRSP.
  • Match an FHSA, RESP, RDSP or LIRA to its intended purpose.
  • Check whether cash transferred into an investment account was actually invested.
  • Check your TFSA room against CRA information and your own records.
  • Explain how an RESP can receive government grants.

4 lessons · about 45 minutes

  1. 1Jars and contents
  2. 2The two main accounts (TFSA / RRSP)
  3. 3Specialist accounts, starting with the RESP
  4. 4Matching accounts to goals, then Account Types in one page + a quick check

This module is free to read with an account. Register free to open every lesson in full and save your progress.

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