RRSP or TFSA Contribution?
Contributing to a Registered Retirement Savings Plan (RRSP) can be good, but the same can be said of a Tax-Free Savings Account (TFSA). How to choose between the two depends on your circumstances. RRSP contributions are tax deductible so the higher your tax bracket the more beneficial it is to make a contribution. If your […]
Understanding tax free savings accounts can be profitable
Understanding how best to use a Tax Free Savings Account (TFSA) could prove to be very profitable. Let’s start with the news. The annual contribution limit has increased for 2019 to $6,000, up from $5,500 for the previous three years. Contributions to a TFSA are not income tax deductible like those to a RRSP. However, […]
Don’t overlook the RRSP contribution advantage
The annual RRSP season is winding down. The last day to contribute and use the tax deduction for 2014 is March 2nd. Seriously consider making a contribution if you have not already done so. Years from now you will be happy you did. An RRSP which stands for Registered Retirement Savings Plan is the most […]
