You'll often hear condensation called a warming process, which can be confusing since condensation has to do with cooling. While condensation does cool the air inside of the air parcel, in order for that cooling to occur, that parcel must release heat into the surrounding environment.
A Tax-Free Savings Account (TFSA), is an account where you can save or invest up to $10,000 a year. 1 Unlike other types of savings, youâre not taxed on the income you earn.Itâs a great way to save for your short or long-term goals; because it lets your savings grow â tax-free. Tax-Free Savings Account (TFSA) is a registered savings account regulated by the federal government. Through a TFSA, you can put your savings into eligible investments and not pay tax on the investment income you earn.
Each tax year, you get an ISA allowance which sets the maximum that can be saved within the tax-free wrapper from April to April. The old ISA system used to limit how much you could put into each pot-you'd either get half your allowance in cash and half in shares, or you could choose to put it all in shares.plit the allowance between cash and stocks & shares ISAs. You get to choose! If you wanted to, you could invest 1,500 in a cash ISA, and 13,740 in a stocks & shares ISA. Or do it the other way around. The only rule is that, combined, your tax free ISA savings in the 2015/16 tax year don't exceed 15,240.