Demographics and rising house prices have pounded Canada’s RRSP contribution rates back to levels last seen in 1970, according to the RBC Economics 2012 RRSP Report.
If you want to make an easy job seem mighty hard, just keep putting off doing it. When it comes to saving for retirement, most Canadians are doing just that.
The countdown is on for your clients to make an RRSP contribution for the 2011 tax year, but shaky markets and economic uncertainty have left many skittish about locking up their available cash.
From time to time, the issue of the dreaded clawback of the Guaranteed Income Supplement (GIS) or Old Age Security (OAS) benefits rears its ugly head in Tax Court when an irate—and often confused—taxpayer challenges the government’s decision to suddenly reduce his or her government benefits based on a one-time unusual income event the prior year.
The services of Canada’s financial advisors are desperately needed, judging by a recent survey. More than half of Canadians (58%) don't feel financially prepared for retirement, according to a poll conducted on behalf of ING Direct.
The so-called “new normal” of ultra-low interest rates continues to lay waste to long-standing investment practices.
While Canadians are more confident about their ability to save for their retirement, pessimism has grown dramatically, according to a report by the BMO Retirement Institute.
B2B Trust has signed a deal with La Capitale Financial Group (La Capitale) to offer preferred rates on RRSP loans to Canadians who purchase eligible La Capitale funds through licensed financial advisors.
The new year is approaching and with it, several key deadlines for tax deductions. December 31—which falls on a Saturday this year, so plan accordingly—marks the last day to contribute to certain registered plans and take advantage of certain tax credits.
While there is little one can do about the vagaries of the stock market, there is plenty an advisor can do to help clients control how much tax money they fork over to the CRA.