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
Pension splitting starts with the type of pension
Compare both returns and allocate the related withholding consistently when electing to split eligible pension income.
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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.
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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.
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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.
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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
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.
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