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Latest News
RWRDS Daily Update – September 21, 2023 + MORE Sep 21st
Discounted free night rewards at two Choice Hotels properties in Canada, WestJet adding Victoria-Las Vegas flights, Earn bonus points or a statement credit with new Amex Offers for Hugo Boss. Check out today's points & miles updates here:
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Government shutdown: Equifax offers free credit reports to affected workers + MORE Feb 4th
If you've been affected by the government shutdown, you might be eligible for a free credit report from Equifax..... More »
RWRDS Daily Update – April 4, 2024 Apr 4th
Get up to 10,000 points back when you book with Aeroplan HotelSavers and earn double Skywards miles on Emirates flights out of Montreal & Toronto. Check out today's points & miles updates here:
The post RWRDS Daily Update – April 4, 2024 appeared first on Rewards Canada..... More »
Rewards Canada reviews the Neo Mastercard, redeem for Amex prepaid cards with a discount & 40% off AeroMexico award flights out of Montreal + MORE May 25th
Here's your Rewards Canada Daily update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Today's update is brought to you by the HSBC High Rate Savings Account with which you can enjoy a total annual interest rate of up to 2.65% on new deposits± .... More »
RWRDS Daily Update March 17: New Amex Offers for Fairmont & Raffles Hotels and United Airlines + MORE Mar 18th
New Amex Offers for Fairmont & Raffles Hotels and United Airlines, Earn 3x Aeroplan points on Air Canada flights out of France and Catch up on This Week in RWRDS. Check out today's points & miles updates here:
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The Pyongyang Olympics
– online.wsj.com
The Western media discover the hidden charms of North Korea.Credit card comeback from recession nearly complete
– creditcards.com
New card accounts have risen to the level just below 2007, says American Bankers Association data
How to get the pension income tax credit
– moneysense.ca
Q: I am 65 years old and will have income for the next three years. I want to open a Registered Retirement Income Fund (RRIF) and transfer some money into it to take advantage of the pension credit on a $2,000 withdrawal. While doing so, can I then turn around and use that $2,000 as part of my contribution to my RRSP? In other words, can you withdraw from an RRIF and contribute to your RRSP in the same year?
—Rhonda P.
A: Thank you, Rhonda, for your question. I assume that you do not have a pension—and you didn’t mention the value of your RRSPs. For many, it’s a great strategy to open an RRIF and transfer net $2,000 from your RRSP in order to take advantage of the pension credit. Be sure to transfer a little bit extra to the RRIF so the $2,000 withdrawal does not deplete the RRIF and cause it to close. Your financial institution will advise you on what the minimum amount is to keep the RRIF open. Or you can transfer as a lump sum.
And yes—you can technically withdraw from an RRIF and then contribute to an RRSP—if you have the room and are still under 71 years of age…
