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

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 ...

We often discuss the maximum TFSA amount, but did you know there's a max for the RRSP as well? Here's how to make it work for ...

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 ...

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

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 ...

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. While an investment portfolio is ...

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.

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.

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 ...