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Can you receive a government pension if you live outside of Canada? Jul 20th
Q. My father, who was born in 1945, left Canada to live in Thailand when was 26 years old. That was 50 years ago and he has never returned. If he comes back to Canada for one year to apply for his OAS, would he be eligible to receive a full pension? And would they be able to calculate his pension an.... More »
Should I draw down my RRIF to avoid estate taxes? + MORE Apr 25th
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Is it a good idea to withdraw more money monthly than one needs from one’s RRIF? What about beginning a regularly automated transfer of this extra money to one’s non-registered investments so that there is less money in the RRIF account upon death? As a result, the estate will be .... More »
When to consider extra RRIF withdrawals Apr 4th
I am in my 91st year and for my age, in reasonably good health. I drew down a significant extra sum in 2025 from my RRIF. Fortunately, due to some good earlier decisions, my RRIF remains with a very strong market value. I use this drawdown for two purposes: to reinvest in my non-registered accounts.... More »
Making the most of the pension tax credit + MORE Nov 29th
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I liked your coverage of RRIF taxation. I would like to see more information on LIF taxation. More precisely, on the following scenario: Individuals do not get the $2,000 tax credit for RRIF withdrawals before age 65. Did I read properly that for LIF withdrawals the $2,000 tax cr.... More »
What’s the best way of using your home equity during retirement? Nov 9th
Not sure how to make a retirement plan? Read on...
What’s the best way of using your home equity during retirement? - thestar.comContinue Reading On thestar.com »Getting the most out of your Retirement Plan in Canada can be tricky - let us help! Visit our Retirement page for.... More »
A guide to spousal RRSPs for married and common-law partners
– moneysense.ca
Couples can open and contribute to a personal Registered Retirement Savings Plan (RRSP) or a spousal RRSP—or both. A spousal RRSP generally makes the most financial sense for couples whose incomes are quite different. If one partner earns little or no income, so that contributing to their own RRSP doesn’t offer any tax benefits, the higher-income spouse can make tax-deferred contributions to their lower-income partner’s retirement savings through a spousal RRSP.
The contributing spouse is limited by their own RRSP room, and the tax deductions are claimed on the tax return of that contributing spouse. And the contributing spouse may also save within their own individual RRSP.
The owner of the account makes the investment decisions, and the account is in their name. It’s important to note that in some provinces, individuals keep the assets in their name when they have a relationship breakdown in a common-law union. That’s because common-law partners are treated like married couples in some provinces, while in other provinces—like Ontario—it’s more of a “what’s yours is yours, and what’s mine is mine” approach, and whose name an asset is held in is generally more important for common-law partners than legally married spouses…
The contributing spouse is limited by their own RRSP room, and the tax deductions are claimed on the tax return of that contributing spouse. And the contributing spouse may also save within their own individual RRSP.
The owner of the account makes the investment decisions, and the account is in their name. It’s important to note that in some provinces, individuals keep the assets in their name when they have a relationship breakdown in a common-law union. That’s because common-law partners are treated like married couples in some provinces, while in other provinces—like Ontario—it’s more of a “what’s yours is yours, and what’s mine is mine” approach, and whose name an asset is held in is generally more important for common-law partners than legally married spouses…
TD is offering a differentiated ETF for income and growth
– moneysense.ca
We all need income to fulfil our everyday needs. Canadians approaching retirement, or already retired, may require income beyond what their government and various pension plans provide. For many, that means drawing a regular income stream from their investments.Income-bearing investments tend to be in fixed-income securities, such as bonds and GICs (guaranteed investment certificates), which are tied to interest rates. Lower interest rates over the past decade have made it harder to earn income through fixed-income securities. Even the slightest interest rate drop can trigger a major drop in one’s regular income stream.
Add to this scenario rising inflation and its effect on purchasing power. “Inflation is something investors haven’t had to worry about for the past decade, but it’s going to make this a more challenging period for fixed-income investing than it has been for the last 40 years,” says Ben Gossack, vice president and director, Portfolio Manager within the Fundamental Equity Team at TD Asset Management…
