Category: RRSP

Income splitting with a spousal RSP

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If you intend to contribute to your RSP this year, you still have a few weeks to get in before the deadline of March 1. For the 2016 tax year, you may contribute up to 18% of your 2016 income, to a maximum of $25,370. As always, you can carry unused contribution amounts forward, thereby … read more

5 other things you can do with an RSP

5 things you may not know about RSPs

For those building wealth for retirement, a Registered Savings Plan (RSP) is a tried and true foundation relied upon by many savers. There’s good reason for this, as an RSP provides many advantages. But while most of us already know the merits of contributing to an RSP, fewer know of the other potential ways in which … read more

RSPs, TFSAs and your retirement strategy

RSPs, TFSAs, and your retirement strategy

The Tax-Free Savings Account (TFSA) was frequently in the news during last year’s federal election campaign. TFSAs made headlines again when the newly-elected government followed through on its pledge to roll back the TFSA annual contribution limit. With the RSP deadline now looming, conversations are once again turning to TFSAs and the annual question of whether … read more