RRSP stands for “registered retirement savings plan.” Sounds exciting, right? Okay, fine. It doesn’t sound exciting at all. But it is! RRSPs are superheroes of modern retirement planning for Canadians. They are true tax-obliterating, retirement-enriching wonders of the modern world. KAPOW!
A Canada PRO deposit in yourbank accountmeans you’ve received a benefit payment from your province, via the Canada Revenue Agency. The “PRO” stands for “provincial.” The CRA makes these payments to certain Canadians living in the provinces of Alberta and Ontario, often bydirect deposit. ...
ESOP stands for employee stock ownership plan. An ESOP grants company stock to employees, often based on the duration of their employment. Typically, it is part of a compensation package, where shares will vest over a period of time. ESOPs are designed so that employees’ motivations and inter...
You can also use your Canada RIT deposit payments to invest in stocks and bonds. Simply open an investment account, either a Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA), or a non-registered personal account, and use low-cost ETFs to invest in a large number ...
To start, TFSA stands for:Tax-Free Savings AccountThe Tax-Free Savings Account was introduced in Canada back in the fall of 2008, and first became available to Canadian citizens on January 1st, 2009. The TFSA is a savings vehicle that complements other savings programs such as the RRSP (...
RRSP slip you can just buy one of those programs at the grocery store and easily file your return. For a business the complexity goes up by a factor of about 10. Keeping track of all your business expenses while recording all your revenue requires at least the use of an Excel spreadsheet...
ESOP stands for employee stock ownership plan. An ESOP grants company stock to employees, often based on the duration of their employment. Typically, it is part of a compensation package, where shares will vest over a period of time. ESOPs are designed so that employees’ motivations and inter...