CIBC Tax-Free Savings Accounts ("TFSA").

The 2008 federal budget contained a bonus that almost every Canadian can benefit from: a Tax-Free Savings Account. It allows you to set money aside in eligible investment vehicles without paying tax on the income and gains earned within the TFSA.

Save faster for important goals such as your retirement, starting a business, your children's education, a new car or a family vacation because you're not paying tax on your investment income. It's a great way to save and a great way to invest.

What do I need to know about making contributions?

• As of January 1, 2009, all Canadian residents age 18 and over are eligible to contribute to a TFSA
• You can contribute up to $5,000 per year with contribution limit increases in subsequent years subject to inflation
• Your contribution limits are not determined by income (Canada Revenue Agency will determine and inform you of your contribution room on your Notice of Assessment)
• Unused contribution room can be carried forward from year to year
• Amounts withdrawn can be re-contributed starting the next year
• Your contribution does not impact your annual RRSP contribution limit
• Contributions are not tax-deductible
• All income earned in your TFSA, whether interest or other investment income or gains, is tax-free

What investment vehicles are eligible for my TFSA?

• Eligible investments include cash deposits, GICs, mutual funds, stocks and bonds (similar to RRSPs)

What happens when I want to make a withdrawal from my TFSA?

• You can withdraw funds at any time1 and for any purpose without incurring tax
• Funds withdrawn will not affect your eligibility for federal income tested benefits such as Old Age Supplement, Canada Child Tax Benefit or Guaranteed Income Supplement

At CIBC, we're committed to helping you Achieve what matters to you™. All of our CIBC advisors are available to meet with you to discuss how a CIBC TFSA could be an integral part of your overall savings and investment plan.

1 Some restrictions may apply depending on the investments chosen.

™ Trademark of CIBC

* January 5th, 2009 for Quebec residents.

Visit your nearest branch or call us at 1-866-712-0999.