For a government group, the Canadian Retirement Agency (CRA) is actually pretty forgiving if youcontribute too much to your RRSP— but only to a point. They start you with a nice bit of cushion: any amount up to $2,000 over your total accrued limit won’t be penalized (though it also...
1, 2024, you can open a TFSA and contribute the full $7,000 annual limit on that date. Is a TFSA worth it? A tax-free savings account can be a good choice for those seeking registered options to maximize their tax-free earnings. Some features that make TFSAs a great addition to ...
Down payments are an essential part of the homebuying process. Find out how it affects your mortgage and get tips to turning your home goal into a reality.
. Previously, the HBP withdrawal limit was $35,000. The funds can be used by HBP applicants to buy or build a home for themselves or for a relative with a disability. An added benefit of the HBP is that accessing your RRSP this way is tax-free — if the amount used is paid back ...