Benefits of Registered Retirement Saving Plans (RRSPs) and Scenarios: Registered retirement saving plans (RRSPs) provide potential for growth on a tax-advantaged basis, which is an advantage over non-registered savings policies. Contributing early and often to an RRSP can help grow your wealth considerably more than in a tax-exposed investment. A contribution to an RRSP means […]
RRSP Season: Fast Fact This year’s RRSP deadline is March 2, 2015. This is the last day that an RRSP deposit can reduce your 2014 taxable income. What is an RRSP? A Registered Retirement Savings Plan (RRSP) is a savings account that has unique tax-deferral characteristics that make it a great choice for retirement savings. […]
Traditionally, owners of incorporated businesses would receive enough salary to maximize RRSP contributions each year. This strategy was viewed as the best opportunity to maximize retirement savings. However, over the past few years ……..