In September 2008, the initial purchase limit for Norrep Funds was reduced from $10,000 to $5,000 to make our funds eligible for the new Tax Free Savings Accounts. (TFSA)

• A TFSA will let you save faster for your important goals in life 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 or capital gains. It's a great way to save and a great way to invest.

What is a TFSA?

• TFSA is a new registered account introduced by the Government of Canada in the 2008 Budget. This account allows savings and investments to grow tax-free.

How much can I contribute?

• A maximum of $5,000 per year. This amount will increase in the future to take into account inflation.
• Unused TFSA contribution room can be carried forward to future years.

Who is eligible?

• Canadian residents 18 years of age or older who have filed a tax return.

What do I need to know about making contributions?

• Contact your Investment Advisor and ask how to take advantage of the new Tax Free Savings Account with Norrep Funds.

Make Norrep Funds your choice to capitalize on the new savings vehicle available in January 2009.

If you would like any additional information, please contact us at info@hesperiancapital.com or toll free at 1-877-431-1407.

Canada Revenue Agency: http://www.cra-arc.gc.ca/gncy/bdgt/2008/txfr-eng.html