RRSP Withholding Taxes
RRSP's, also known as Registered Retirement Savings Plans, are a great way to reduce taxes in your higher income tax years and allocate that income in the lower tax years. Ideally people will contribute when they are in a higher tax bracket than when ...
Should I take CPP Early or Late? Canada Pension Plan payments
Are you thinking about taking your CPP, Canada Pension Plan, early or deferring it past 65? There is a large difference between taking the pension at 60 versus 70. Many of our clients say that they may not live that long and would rather take the ...
Spousal RRSP Attribution Rules
Spousal RRSP's are a great way to equalize retirement assets when one person has a significantly higher income level. If a spouse or common-law partner contributed to your spousal RRSP in the current or preceding two tax years then they may have to ...
Donating Shares to a Charity
We received questions about donating shares to a charity many times. When someone is looking to make an impact on a charity and they want to do so by donating financial assets then there are some questions that come into play. The first questions is ...
First Time Home Buyers' Plan (RRSP)
Finding a down payment for your first home may be challenging. The government has come up with a plan that helps encourage people to save through their RRSP's while also allowing them to use the funds for a down payment. You're encouraged to save and ...