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For the usual Canadian-resident case: age 18+ with a valid SIN and available contribution room. Some provinces and territories require age 19 to sign the contract; room still starts at 18. Contributions are not deductible. Investment income and withdrawals are generally tax-free. Withdrawn amounts return as contribution room the next calendar year.

There is no minimum contribution age under tax rules, but you need contribution room, generally based on prior-year earned income; providers may have age requirements. Eligible contributions can reduce taxable income. Growth is usually sheltered while inside; withdrawals are generally taxable. Your own RRSP must mature by the end of the year you turn 71.

For eligible Canadian residents age 18+ (19 where the contract age is 19), and 71 or younger at year-end, who meet CRA first-time home buyer conditions, including the spouse/partner test. Room starts when the first FHSA opens: $8,000 that year, with a $40,000 lifetime limit and limited carry-forward. Contributions are generally deductible; qualifying home withdrawals are tax-free. Other withdrawals are generally taxable.

No TFSA/RRSP contribution-room limit or special tax shelter. Providers set opening requirements; minors may need a parent or guardian arrangement. Interest, dividends and realized capital gains can be taxable, with different tax rules. Ownership and attribution rules can affect whose tax return reports income.