Your RRSP contribution limit caps the amount of money you can invest in your registered retirement savings plan; usually the limit is 18% of your reported income from the previous year.
A TFSA is similar to other registered plans, such as a registered retirement savings plan (RRSP). The main difference with a TFSA is that although you don’t get a tax break when you contribute, you would not pay any capital gains tax to the Canada Revenue Agency (CRA) when money is ...
6. Approval Decision:Once the underwriting process is complete, the lender will make an approval decision. If your application is approved, you will receive an offer outlining the terms and conditions of the HELOC, including the approved credit limit, interest rate, and repayment terms. It’s i...
Heather: to be precise about it, I guess you’d need to consider your annual spending to be “how many dollars would I need to take out of my RRSP, to have my needs covered after tax”. In practice, I find that the tax rate is negligible for Mustache-level retirement incomes. Plus...
–you accrue TFSA contribution room every year regardless of income so you can [today 2015] put $5.5K/yr of any RRSP withdrawals into your TFSA to shelter its growth. This money is never taxed again and does not impact any income tested old age benefits. –you will pay capital gains tax...
I invested RRSP money in some mutual funds through Bank of Montreal. I had a look at TD Waterhouse like you mentioned, and I can now see that BOM charges quite a lot in fees. I would like to transfer the money out of there and buy TD Waterhouse US Index funds. Is this an easy...