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[ad_1] The impact of your marginal tax rate It’s important to clarify, Ken, that if you have a minimum RRIF withdrawal with no tax withheld, that...
[ad_1] RESP contributions and withdrawals Registered education savings plans (RESPs) are used to save for a child’s post-secondary education. Contributing to an RESP can give you...
[ad_1] If the RRIF is not set up this way, there will be immediate tax consequences, and the estate wishes of your husband may not play...
[ad_1] There is a spousal attribution rule with spousal RRSPs that applies if you take withdrawals within three years of your spouse contributing. This may result...
[ad_1] Working as a financial planner, I am often asked, “What is the most tax-efficient way to draw down on investments?” From the outset, I question...
[ad_1] Can you hold gold in a registered account? Gold is considered a qualified investment for registered accounts in Canada, Audrey. This means you can hold...
[ad_1] Withdrawing from an RRSP before age 70 Are you thinking you’d like to withdraw everything from your RRSP before starting your OAS or age 70?...
[ad_1] Can you transfer a RRIF to a TFSA? A RRIF is a tax-deferred account. A TFSA is a tax-free account. So, you cannot do a...
[ad_1] The minimum age at which you can convert a registered retirement savings plan (RRSP) to a registered retirement income fund (RRIF) varies by province: it’s...
[ad_1] I am guessing you have downsized your home to move to a condo and now have money to contribute more to your registered retirement savings...
[ad_1] Unless taxpayers make a request, there are no withholding taxes on the minimum RRIF withdrawal. This can result in the Canada Revenue Agency (CRA) requesting...
[ad_1] You do not have to wait until age 71 to convert your RRSP. Most people consider doing so once they have retired. RRIF withdrawal rates...
[ad_1] “Mine is probably the only calculator that assumes one’s spending does not quite keep pace with inflation in our later years.” “My calculator is one...
[ad_1] Registered retirement income fund (RRIF) withdrawals are fully taxable and added to your income each year. You can leave a RRIF account to your spouse...