You probably know that starting in 2009, Canadian can open Tax-Free Savings Account (TFSA) where the interest grows tax free (up to $5,000 every year). All the details can be found on the Department of Finance Canada website.

If you are currently a client of ING Direct like me, you might have received a Tax-Free Savings Account related message. ING Direct offers to give a portion of the interest you earned in 2008 (between October 4th, 2008 and December 31st, 2008) to start up your new 2009 TFSA account. You can read about it on ING Direct website.

Enjoy that’s free money!