Saving & retirement
TFSA room, FHSA deadlines, RRSP deductions and retirement income. Follow the different rules before moving money between accounts.
Saving & retirement
21 articles · 1 / 4
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.
Read the story
Saving & retirement 2 min
One RESP payment, two kinds of money
Identify the taxable education assistance payment separately from returned contributions when using an RESP for school.
Read the story
Saving & retirement 2 min
I had circled February. The account wanted December.
Nadia plans a first-home contribution around an old RRSP habit. The useful distinction is between contributing now and claiming the deduction later.
Read the story
Saving & retirement 2 min
The bank kept tax. Why is more still owing?
Understand the gross withdrawal, withholding and year-end tax before using an RRSP for an unexpected expense.
Read the story
Saving & retirement 2 min
A TFSA excess can cost tax even if it lasts only a few days
Find the highest excess in each affected month, stop further excess deposits and check the separate TFSA return.
Read the guide
Saving & retirement 2 min
The RRSP deposit still needs its HBP designation
Use your HBP statement to identify the required repayment and designate eligible contributions correctly on the return.
Read the guide