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[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] Many Canadian employers see DB plans, where retirees receive a guaranteed payout every month (sometimes indexed to inflation), as too expensive. And while the average...
[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] Investment Investment account Purchase price Sale price Gain Capital gains tax After-tax gains Bitcoin Non-registered $23,500 $61,000 $37,500 $3,750 $33,750 Bitcoin ETF TFSA $23,500 $61,000...
[ad_1] The difficulties facing newcomers to Canada with respect to retirement planning are particularly acute. Given how Canada’s immigration points system works, economic immigrants are usually...
[ad_1] Retirement OAS payment dates in 2024, and more to know about Old Age Security Here’s how Canada’s Old Age Security pension program works, who’s eligible...
[ad_1] “If someone’s not lucky enough to have a company pension, it’s that much more crucial for them to be building up savings on their own,”...
[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] It’s not as big a problem as you might think. The key is to try to mimic the pay-yourself-first approach by setting up an automatic...
[ad_1] Here, we’re focusing on splitting pension income, which can include income sources that are not from traditional pensions. Can you split your income? Here’s a...
[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] Canada Pension Plan (CPP) deferral: CPP deferral is worth considering for any healthy senior in their 60s. If you live well into your 80s, you...
[ad_1] 10 ways to use your tax refund How you choose to spend your tax refund will often boil down to your tax bracket and debt...
[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] Dividends are after-tax profits a company distributes among its shareholders, typically every quarter, and can be paid in cash or a form of reinvestment. Heath...
[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] Retiring with little to no savings can be challenging, but it is not impossible. Canada Pension Plan (CPP) For a retiree who has worked most...
[ad_1] Are you on track, or are you playing catch up? For some Canadians, that may feel like plenty of time to ramp up their retirement...
[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...