Here is an excerpt from an important article by Louis on RRSPs. Tax time is fast approaching and it's time now to start considering your options.
One of the most popular and significant tax planning options available to the public is
registered retirement savings plans (RRSPs). The RRSP program was created, by the
government, to allow people to save for their retirement. With the ever increasing
pressures on the Canada pension plan (CPP) and Old age security (OAS) programs, it is
no secret that our generation will likely benefit insignificantly from these programs.
RRSP’s help us offset the shortfalls of the CPP and OAS programs – at least to some
degree. The program works fairly simply. You purchase investments through an RRSP,
get a deduction on your tax return in the year you contribute and take the tax savings.
Read the entire article here:
https://docs.google.com/document/d/1paWFX6XJ-YNa5XilGiMMtVwkremQOHkG8Yc1tUBexds/pub
One of the most popular and significant tax planning options available to the public is
registered retirement savings plans (RRSPs). The RRSP program was created, by the
government, to allow people to save for their retirement. With the ever increasing
pressures on the Canada pension plan (CPP) and Old age security (OAS) programs, it is
no secret that our generation will likely benefit insignificantly from these programs.
RRSP’s help us offset the shortfalls of the CPP and OAS programs – at least to some
degree. The program works fairly simply. You purchase investments through an RRSP,
get a deduction on your tax return in the year you contribute and take the tax savings.
Read the entire article here:
https://docs.google.com/document/d/1paWFX6XJ-YNa5XilGiMMtVwkremQOHkG8Yc1tUBexds/pub