The Tax-Free Savings Account (TFSA) is one of the most incredible investing tools available to Canadian investors. This account allows long-term growth investors to put some risk capital away when they're young and watch it grow tax-free into retirement. When the time comes to pull money out of this account (and money can be pulled from the account at any time), investors won't pay taxes on their gains. Thus, much like a Roth IRA product in the U.S. and other similar retirement products around the world, this is among the most advantageous ways for young investors to take advantage of the growth most major indices provide over the long term.

Since capital gains are not taxed in the same way as a Registered Retirement Savings Plan, for example, investors are generally best suited to having their higher-growth investments in such an account. For 2025, the TFSA contribution limit remains at $7,000.

So, for those looking to put their next $7,000 to work in high-quality growth stocks, here are two top Canadian growth stocks I think are worth considering.

Constellation Software

Constellation Software (TSX:CSU) remains one of the top growth stocks I continue to pound the table on. There's a good reason for this.

For one, Constellation's positioning as a key player in the software sector speaks to the company's long-term growth prospects. Constellation has grown to the size it has by acquiring a range of software companies and rolling them into a structure that can provide outsized growth over the long term. I think of Constellation as an incubator of sorts, buying companies at an early stage and investing in them to see outsized returns over time.

For those bullish on the potential for Canadian tech companies to outperform over the long term, this is a stock I think is worth considering. However, looking at the company's stock chart above, it's clear that Constellation's long-term performance speaks for itself. This is a repeatable and scalable business model that works.

Until society shifts toward a Luddite model, we're going to require ever-better software solutions. Constellation is really a company at the forefront of this movement.

TMX Group

One company I don't discuss enough, but really should, is TMX Group (TSX:X). As the parent company of the TSX exchange, the company creates markets in Canada across equities, fixed income, and energy/commodities. This business model is one that is very easy to understand — the more investors trade, the better TMX does.

And with the increasing financialization of our economy, TMX is one company I think is poised to continue to grow over time. The index operator earns significant fees from new listings and increased trading activity, so if we do see a pickup in the markets, this is a stock that could lead the way higher. And with activity remaining high (unfortunately, mostly selling pressure of late), this is a stock long-term investors continue to be bullish on.

The company's stock chart above really tells a compelling story for long-term investors. TMX has continued to post double-digit growth on both its top and bottom lines, suggesting that market turmoil could be a net positive for this company.

Thus, as we head into a period of uncertainty, this is among the top defensive growth stocks I think investors can continue to own here. Yes, X stock trades at a multiple of around 30 times earnings. But that's a multiple I think is justified, given where the company sits at the intersection of growth and defensiveness right now.