Saving & retirement
TFSA room, FHSA deadlines, RRSP deductions and retirement income. Follow the different rules before moving money between accounts.
Saving & retirement
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Saving & retirement 2 min
The RRSP decision arrives before the year ends
Plan the maturity of each RRSP before December 31 and distinguish a direct registered transfer from a cash withdrawal.
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Saving & retirement 2 min
A large withdrawal can affect more than the income-tax bill
Match the annual OAS recovery calculation and later monthly deductions to the correct income year.
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Saving & retirement 2 min
A better TFSA rate does not require a trip through chequing
Ask for a direct TFSA transfer when changing institutions so a withdrawal and redeposit do not accidentally use contribution room.
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Saving & retirement 2 min
An RDSP starts with eligibility, not a deposit
Prepare DTC approval and identity information, check age limits and ask about grants and bonds before opening a disability savings plan.
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Saving & retirement 3 min
Nadia has an accepted offer. The FHSA withdrawal still needs a check.
Review the home purchase, timing, residency and issuer form before requesting a tax-free FHSA withdrawal.
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Saving & retirement 2 min
Moving an FHSA balance to an RRSP
A qualifying direct FHSA transfer can preserve tax deferral without using RRSP room; a cash withdrawal and new deposit are different.
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