The RRSP contribution deadline for the 2023 tax year is fast approaching. Thursday, February 29th is the last day to contribute to a RRSP and receive an income deduction for the 2023 tax year. A RRSP contribution will reduce your tax payable and may also lead to a...
New year, new TFSA contribution limit! The annual contribution limit for 2024 has increased to $7,000. The lifetime limit for someone who has never contributed (and turned 18 in 2009 or earlier) is now $95,000. Check out all of the benefits that a TFSA has to offer!...
Wednesday, March 1st, 2023 is the last day to contribute to a RRSP and receive an income deduction for the 2022 tax year. A RRSP contribution will reduce your tax payable and may also lead to a refund. In addition, you’ll benefit from tax-deferred growth on your...
Happy New Year! An additional $6,500 of Tax-Free Savings Account (TFSA) contribution room is available for 2023. The lifetime contribution limit (if you were born in 1991 or earlier) is now $88,000. Make sure to verify your contribution room before adding to your TFSA...
The 2022 federal budget proposed a new savings tool for Canadians – the Tax-Free First Home Savings Account (FHSA). The Department of Finance has recently announced more details about the account, which is expected to be available “at some point in...
