RRSP Spectacular!

RRSP Spectacular!The deadline is looming and Canadians still ponder about whether they should put more money into their RRSPs? When is the Deadline? According the to TD Waterhouse web site the deadline is Midnight on March 1st (so you get an extra banking day) for contributions to count on last year’s income tax. So you still have plenty of time to ponder this. A useful tool for this exercise is Quicktax’s…

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Run, don’t walk, Run to open a TFSA

Run, don’t walk, Run to open a TFSALook.  There’s no downside and all kinds of upside to the Tax Free Savings Account. Become a saver, already! Here’s how it works: 1. Set up a Tax Free Savings Account at any Canadian bank you like. 2. Every year, you can put in up to $5000. But $100 is just fine too. 3. Whatever that $5000 earns, you are never taxed on.  So you can go conservative and just…

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