TFSA

February 11, 2013

It’s RRSP season: Things you should know

By |2017-01-02T20:23:17-07:00February 11th, 2013|Personal Taxation|

In Canada, the time frame in which you can contribute to your RRSP account for a particular calendar year runs from March 1st to February 28th of the following year. For example, you can contribute to your RRSP account until February 28, 2013 in order to get the tax deduction on your 2012 taxes. If you have or intend to open an RRSP account there are few things that you should know to best utilize this option that you have. [...]

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January 28, 2013

Why a Tax Free Savings Account (TFSA) could work for you

By |2017-01-02T20:23:17-07:00January 28th, 2013|Estate Taxation, Personal Taxation|

In 2009, the government passed legislation that would allow Canadians an alternative method of saving for retirement. The TFSA was introduced to give people more flexibility with their money. As you know with RRSP's, that money is generally locked in until retirement, that is of course you are willing to pay back the tax savings that you received when you took the RRSP deduction on your taxes. Generally speaking, the TFSA is more of a "pay as you go" type [...]

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