There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
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When are tax-deferred and tax-free accounts actually taxable? + MORE Feb 9th
Q. I saw your blog online; thank you so much for the wonderful job that you are doing—it was very informative! That motivated me to start investing too, but now I have a couple of questions. I understand that there is tax on US dividends in TFSA, do we pay tax as well when we sell:
U.S. stocks in.... More »
Should you hold gold in a RRIF? + MORE Aug 9th
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I have a RRIF (registered retirement income fund) and I am looking to shift it to gold. I am 65 years old. Is this safe and does this make sense?
—Audrey
Investing in gold for retirement in Canada
Gold prices have surged recently, rising 26% over the past year. Silver has .... More »
Can you delay a RRIF withdrawal? Jun 6th
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I read you can base your RRIF withdrawals on your wife’s age to minimize them. Can you please explain exactly what that means? My wife is seven years younger than me, and I am 68. I already have a small RRIF, set up for the pension benefit. When I hit 71, when I convert my RRSP to a.... More »
What do to with a spousal RRSP at age 71 Jun 15th
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My question is in regards to a spousal RRSP that I have set up for my wife years ago. When she turns 71, do we have to turn it into something like a RRIF, which I did for my RRSP (I am older than her) and then withdraw from it annually? Or, could it be directly transferred to her TFSA.... More »
Making sense of the markets this week: December 24, 2023 Dec 28th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
It’s a tough job, but…
It’s really hard to predict what the investment world will do. It’s even harder to predic.... More »
Q. I have been retired and living in the Philippines since 2009. I file my taxes as a non-resident of Canada. I have an RRSP, a LIRA, as well as a non-registered account with a major Canadian bank. My world income is 100% from Canada consisting of CPP, systematic withdrawals from retirement savings, and OAS to follow when I reach 65 next year. When monies are withdrawn the bank retains a 25% holdback for taxes. When I file my non-resident taxes I get a partial refund as my withdrawals to date have been minimal hence my tax rate has been less than 25%.
My question has to do with taxes being withheld from dividends earned from both my registered and non-registered stocks. The bank also deducts a withholding tax from dividends as they are paid out. I do not receive an information slip for taxes withheld from dividends. These dividend-paying funds were purchased when living and working in Canada during my long career. They are primarily held in U.S. funds. Why am I being taxed on these dividends without receiving an information slip?
Thank you in advance, Gregor
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