What does TSFA stand for?

The introduction of a new 50p rate of tax for anyone earning more than pounds 150,000 a year and a hike in the amount savers can put in tax-free savings accounts to pounds 10,200 were the headline personal finance announcements in the Budget.

Hargreaves also said there was a huge opportunity before April 5 to attract new customers to its Isa and Sipps tax-free savings accounts.

With that in mind, the new Tax-Free Savings Accounts (TFSAs) should not be overlooked.

These cheap health insurance policies have a deductible so high that in a normal year they will not pay even a penny toward any of your health care needs - that''s what your tax-free savings account is for.

1bn flowing into tax-free savings accounts in April, against pounds 1.

There are 3 important recent CAP-related tax developments: tax-free savings accounts (TFSA) which complement existing employer-sponsored defined contribution arrangements and facilitate additional employee savings through payroll deductions; non-resident trust rules (NRT Rules) which were proposed in Bill C-10 to be effective retroactively to January 1, 2007; and the Fifth Protocol to Canada-U.

These tax-free savings accounts are available from banks and building societies.

Budget 2008 contains, among other things, the proposed introduction of a registered Tax-Free Savings Account (TFSA).