Connect with us
[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] 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] “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] On the other hand, if you aren’t happy with any of these options, do some research, says Ulmer. “Talk to people who you think are...
[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] 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] 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] 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] “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] Should Canadian non-residents keep their TFSAs? Tax-free savings accounts (TFSAs) can remain tax-free for a non-resident of Canada—at least from a Canadian perspective. If a...
[ad_1] Return to top. Prepping your taxes, including the 2022 tax brackets Even if someone else does your taxes, you still have some prep to do....
[ad_1] What is Estate Administration Tax in Ontario? Estate Administration Tax, commonly known as probate fees, is a mandatory tax imposed by the Ontario provincial government....
[ad_1] When you contribute to an RRSP, you must claim the contribution on your tax return for the year. That is, you report the fact that...
[ad_1] A corporation’s investment income is generally taxable at between about 47% and about 55%, depending on the corporation’s province of residence. This includes interest, foreign...
[ad_1] Opening a margin account A simple option to borrow to invest is by using a margin account at a brokerage. Depending on the existing investments...