What’s your RRSP contribution limit? Feb 19th

How to go about securing the best policy for your insurance in Canada.
Latest News

Canadian banks hacked and the insurance claim you can't make: CBC's Marketplace consumer cheat sheet Jun 4th

CBC's Marketplace rounds up the consumer and health news you need from the week, including customer data hacked at two Canadian banks, taking car insurance companies to court and the provinces with the best cellphone plans..... More »

Great-West Life websites hit with outage after IT upgrade Jun 28th

Various Great-West Life websites have been offline for several days following what the company calls a routine IT upgrade, but the benefits and insurance giant says it has not been the victim of a hack, and customers are able to file claims as normal..... More »
 health insurance

BREAKING: Ontario Car Insurance Rates Increase Apr 21st

Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 2.23 per cent on average.... More »

Founder of Chinese company with billions in B.C. assets gets 18 years for fraud May 11th

Anbang Insurance Group's extensive B.C. holdings — including Vancouver's Bentall Centre and the largest retirement and care home company in the province — is now controlled by the Chinese government..... More »

Manulife shares rise after rules over insurance deposits clarified Oct 30th

Two of Canada's largest life insurance companies welcomed a Saskatchewan government decision that clarifies the rules for a type of insurance policy that's been the focus of civil suits against them..... More »

If you’re like many Canadians, you’re hoping you’ve paid enough tax for 2017 and may even be looking forward to a hefty tax refund cheque. You can help ensure that happens by knowing the details of your Registered Retirement Savings Plan (RRSP), what sets them apart, your contribution limit and a whole slew of other things. Here are the basics:
What’s an RRSP
An RRSP is a retirement savings plan that you open at a bank or other financial institution near you. It’s registered by the federal government of Canada, and you can contribute to it up to an annual maximum amount.
What’s special about RRSPs
Contributions to RRSPs are deductible, meaning they can be used to reduce your taxes. Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you withdraw money from the account.

Ten RRSP questions answered »

Who can open an RRSP
If you have earned income, have a social insurance number and have filed a tax return, you can contribute to an RRSP up until December 31 of the year your spouse turns 71…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!