If your client has a life income fund (LIF) that earned big returns in 2024, they may have the opportunity to unlock a larger portion of the LIF this year, depending on the governing province.

The FHSA combines the best features of Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs) to provide first-time homebuyers with a tax-advantaged savings tool that ...

Registered accounts are very good at sheltering funds from taxation while they grow over time; however, you must make sure you do indeed withdraw all your money before you pass away. You don't want a ...

Plus, get $200 or more cash back. Offer expires March 31, 2025. Offers a variety of accounts including: TFSA, RRSP, FHSA, RRIF, RESP (Individual account) and Non-registered (Individual account ...

Account fees: $25 per quarter (can be waived ... at which point it must be transferred to a registered retirement income fund (RRIF) and you must begin to withdraw the money as taxable income.

An RRSP is an account specifically designed for retirement planning. It is registered with the CRA and intended to be converted into a Registered Retirement Income Fund (RRIF), which acts as an ...

Larry’s retirement spending goal is $72,000 a year after tax, although he’d like to spend more and wonders if he’d have to get a part-time job to do so ...

Income splitting is a way to move income from your tax return to other family members’ tax returns. It is commonly done ...

To minimize taxes and maximize benefits, learn the difference between deductions, credits and other forms of tax relief by ...

Tax-free savings accounts (TFSAs ... the same contribution limitations as you do with an RRSP. Registered retirement income fund (RRIF). An investment option that lets people convert their ...

A new report from the National Institute on Ageing says thousands of Ontarians are missing out on millions in unclaimed pension money.

Typically, you’ll open a new account with your new investment ... or converted to a registered retirement income fund (RRIF) or annuity. If you transfer your RRSP directly to a RRIF by filling ...