Despite the market challenges of 2011, Canadians say they will keep on contributing to their RRSPs, according to a BMO Financial Group survey.
A recent survey of Canadians found that 83% of those planning to make an RRSP contribution intend to contribute at least as much as they did last year. How much did Canadians contribute for the 2010 tax year? Not surprisingly, far less than they could have.
This course is no longer eligible for CE credits. Go to cecorner.ca to find eligible courses. While tax-advantaged vehicles such as RRSPs and TSFAs are a sure bet for most investors, they are limited by the investor’s contribution room. Once that has been exhausted, investing in taxable accounts is the next step. At that point, […]
While many Canadians may be jittery about equity markets these days, they still see the value in socking away cash for their retirement, according to the annual Investors Group survey of investors’ RRSP intentions.
B2B Trust and Canada Life have signed an agreement giving a preferred interest rate on RRSP loans for the purchase of eligible Canada Life segregated fund policies.
Canadians are saving too much for retirement, according to the report issued by C.D. Howe. You read that right. Not all Canadians, of course—just those who have access to defined benefit pension plans.
Any amount withdrawn from an RRSP is taxed like interest income. So, if Howard withdraws $300,000 to make an investment outside the account, he's subject to a 39% tax rate since he's at the highest marginal rate.
Conventional wisdom says clients should contribute as much as possible to an RRSP and wait as long as possible to start taking withdrawals.
Any amount withdrawn from an RRSP is taxed like interest income. So, if Howard withdraws $300,000 to make an investment outside the account, he’s subject to a 39% tax rate since he’s at the highest marginal rate. - Help clients access RRSP funds and save tax
Given the number of Canadians who vacation in the U.S. each year, as well as those who move between borders for employment or other reasons, it’s important for financial advisors to be aware of the regulatory and income tax issues faced by clients who regularly spend time south of the border.