Originating in 2009, the TFSA program is a way for Canadians 18 years and older, to save money in a tax-free plan. Unlike the RRSP, contributions into a TFSA are not tax-deductible, however, withdrawals from the program have no tax consequences. Depending on a person’s taxable income, the decision to invest in RRSP plans or TFSAs should be investigated.