It’s important to understand how RRSP withdrawals work, because depending on how you access your money, you could wind up paying a steep withholding tax — a cost we’re happy to help you ...

Any investment growth or income earned within an RRSP is exempt from annual tax. You must, however, pay tax at the time of withdrawal—ideally, when you’re in retirement or otherwise in a lower ...

It’s important to recognize that many charities in Canada are experiencing a significant reduction in donations this year – ...

Traditional RRSPs have been a cornerstone of retirement planning for decades, but their shortcomings are becoming harder to ...

When a contribution is made to the spousal RRSP the contributor receives a tax deduction that could ... year attribution rule that applies to the withdrawal of money from a spousal RRSP.

If you need money, try to withdraw the income from a non-taxable source like a Tax-free Savings Account (TFSA) rather than a Registered Retirement Savings Plan (RRSP) (where you’ll pay taxes on ...

Individuals can contribute to a spousal RRSP, of which their spouse or common-law partner (CLP) is an annuitant. That allows ...

And because your money grows tax-free, it can be a powerful way to take advantage of compound growth. Though they have contribution limits and withdrawal rules, RRSPs are simple to understand and use.

Failing to report these withdrawals can result in penalties and additional taxes. Yet again, by maintaining investments within your RRSP, such as holding XIU, you can minimize the need for early ...

The Canada Revenue Agency (CRA) has added another $7,000 to the total amount that can be contributed to a tax-free savings ...

Additionally, account holders can withdraw funds for purchasing or building their first home tax-free. Any funds not used can be transferred on a non-taxable basis to an RRSP or a Registered ...