Feb 23, 2016 | Personal Tax and Finance, RRSP, TFSA & Retirement
So you have until March 1 each year to make an RRSP contribution for the prior tax year right? NOPE! You only have the first 60 calendar days to contribute to last year’s RRSP. On a leap year such as 2016, that deadline lands on February 29th. Luckily, we have some...Feb 26, 2015 | Personal Tax and Finance, RRSP, TFSA & Retirement
It is getting to that time of year once again, and the deadline for RRSP’s is fast approaching. Any contributions you make towards your RRSP for the 2014 taxation year must be done before March 2, 2015. You can avoid interest and penalties by contributing,...Dec 10, 2014 | Personal Tax and Finance, RRSP, TFSA & Retirement
RRSPs are intended for retirement savings on a tax-deferred basis. Withdrawals before retirement are generally taxable and contribution room is lost. The federal government allows two exceptions: the Home Buyers’ Plan (HBP) and the Lifelong Learning Plan (LLP)....Nov 4, 2014 | Personal Tax and Finance, RRSP, TFSA & Retirement
Tax rules, especially when dealing across International borders, can be complicated and cumbersome. Here’s a (rare) piece of good news that may simplify your tax life! According to this article, Canadians who are also US taxpayers will no longer need to...Nov 4, 2014 | Personal Tax and Finance, RRSP, TFSA & Retirement
Important: The following describes historical proposals. The Government of Canada had proposed gradually increasing the age of eligibility for OAS and GIS from 65 to 67. That change was later reversed. OAS eligibility remains at age 65. This article is kept for...