Government Savings Plan
The new "tax free savings plan" is a bit of a joke.
With interest rates low ... 3.25% about as high as you will get on a GIC, this equates to under $200.00 per year in interest that this new savings plan will allow to be saved "tax free". For most people I feel it would be smarter (provided they have that $5,000.00) to make a lump sum payment against one's mortgage.
It irks me that our government spends so much time & $$$ promoting programs that give an illusion that they are helping us.
If this is the best they can do, then they need to re-think this program and spend the $$$ we pay them on programs that have some substance and value.