What’s my RRSP contribution limit for 2022? Nov 16th

How to go about securing the best Retirement Plan in Canada.
Latest News

“What type of content am I reading?” + MORE Nov 23rd

You can always tell by how an article is labelled what type of content you’re reading. The label appears not only on the article itself, but anywhere it appears on the website. No label. If the only label you see is a topic tag, such as Investing or Retirement, that means you’re reading a purely.... More »
If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2022 and may even be looking forward to a hefty tax refund. (The deadline for filing this year is April 30, 2023, and since that date falls on a Sunday, you actually have until May 1, 2023 to file.) You can help ensure that happens by knowing the details of your registered retirement savings plan (RRSP), what sets this type of registered savings account apart, your contribution limit and a whole slew of other things. Here are the basics:

What’s an RRSP?

A registered retirement savings plan, or an RRSP is a savings account that you open at a bank or other financial institution. It is registered by the federal government of Canada for tax savings, and you can contribute to the account up to an annual maximum amount. 

What’s special about RRSPs?

Contributions to RRSPs are deductible, meaning they can be used to reduce your Contributions to RRSPs are deductible, meaning they can be used to reduce your taxes…

Continue Reading On moneysense.ca »

Share

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