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One of the most common forms of investments for the average person is RRSPs. By contributing to these each year they have some security in knowing they are saving towards their retirement. Although most know what these are they may have some misconceptions or inaccurate knowledge about them. When To Contribute Many individuals only think…
While we have just passed another deadline to contribute to your RRSP’s there are many that have this form of savings but have found that they are ending up having to dip into it because their financial situation is so tight. A recent survey has shown one that one in five people have had to…
There are a lot of people that really want to buy a home and are contemplating on using their RRSP as their source for being able to do this. What they’re not sure of is whether this is a wise move or really how to go about it. There are a few rules that you…
For a lot of people it is really difficult to give much thought to any type of savings plan because it is all they can do to make ends meet now. Often this means not paying attention to the registered retirement savings plan in respect to the deadline date for contributions, or even to…
You have probably grown tired of hearing how you should be saving for your senior years, and maybe you have played it smart and taken out some RRSPs (registered retirement savings plan). You are still young and have a long future ahead of you in the meantime. Lots of decisions to be made…
When is the RRSP contribution deadline for 2013 Did you know that the RRSP contribution deadline for the 2013 tax year is Monday March 3, 2014. If you read my other article why you would want to contribute to your rrsp today and would like to make a contribution then Contributions can be made through…
If you are considering buying a new home or resale home in Canada, as a first time homebuyer, you should be aware that you may be entitled to a refund of up to $750 on your tax return. This refund is known as the First Time Home Buyers Tax Credit (HBTC). You are considered to…
Tax Free Savings Account (TFSA) The tax free savings account (TFSA) started in 2009 and allows individuals 18 years of age who are residents in Canada to accumulate funds and earn income on the funds on a tax free basis. Unlike RRSP’s the annual limit is not based on earned income but is the same…
