Year-end tax and financial planning considerations + MORE Oct 16th

All about Canadian investments. Learn the ins and outs and get the latest news.

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The best GIC rates in Canada for 2024

– moneysense.ca

GIC comparison tool

Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.

Why trust us

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

Frequently asked GIC questions

Here you’ll find the answers to common GIC questions, along with information on the best GIC rates available right now. If GICs are new to you, and you want to learn everything there is to know, start by reading our guide below.

Where are GIC rates headed during the end of 2024?
On Sept…

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Year-end tax and financial planning considerations

– moneysense.ca

As the year-end approaches, there may be planning strategies to consider. In some cases, there may be a sense of urgency. In other cases, it may just be a good time to start preparing for the year ahead. Let’s review some of these strategies, including making contributions to registered accounts, tax-loss selling and more.

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 access to government grants, including up to $7,200 in Canada Education Savings Grants (CESGs), typically requiring $36,000 of eligible contributions. The federal government provides matching grants of 20% on the first $2,500 in annual contributions. You can catch up on shortfalls from previous years, to a maximum of $2,500 of annual catch-up contributions. But there is a lifetime limit of $50,000 for contributions for a beneficiary.

If a child is a teenager and there are a lot of missed contributions, the year-end could be a prompt to catch up before it’s too late…

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