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Crypto marketing: What can be said—and not said—in Canada? + MORE Dec 14th
I saw an ad saying there’s no risk in trading bitcoin. How can they say that?—Abbas
Good question. Crypto companies try to entice new customers with flashy marketing. Sometimes, the offers sound far too good to be true, promising outsized returns or low to no investment risk.
Here’.... More »
US stocks and dollar slide after Trump attacks Fed chair Powell - BBC + MORE Apr 22nd
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The best TFSAs in Canada for 2021 + MORE Jan 27th
A tax-free savings account, known better as a TFSA, is a savings vehicle available to Canadians aged 18 and up who have a valid social insurance number (SIN). It was launched by the federal government in 2009 as a way to encourage Canadians to save and invest.
As the name suggests, TFSAs offer a tax.... More »
What’s my RRSP contribution limit for 2020?
– moneysense.ca
If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2020 and may even be looking forward to a hefty tax refund. 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.
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.
10 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…
