Saving & retirement
TFSA room, FHSA deadlines, RRSP deductions and retirement income. Follow the different rules before moving money between accounts.
Saving & retirement
21 articles · 3 / 4
Saving & retirement 2 min
The word "pension" does not settle the credit
Match each payment to the CRA eligibility chart before claiming the federal non-refundable pension income amount.
Read the guide
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
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.
Read the guide
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.
Read the story
Saving & retirement 2 min
Before withdrawing from a spousal RRSP, check three calendar years
Recent contributions can cause a spousal RRSP withdrawal to be taxed to the contributor rather than entirely to the account holder.
Read the guide
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.
Read the guide