Canadian CANNAINVESTOR Magazine December 2017 | Page 201

lost after 2018. RDSP holders with shortened life expectancy can withdraw up to $10,000 annually from their RDSPs without repaying grants and bonds. A special election must be filed with Canada Revenue Agency by December 31 to make a withdrawal in 2017.

TFSA Contributions/Withdrawals

The TFSA dollar limit for 2017 is $5,500. If you are at least 18 years old and a resident of Canada since 2009 you can contribute up to $52,000 in 2017 if you haven’t previously contributed. If you plan to withdraw money from your TFSA, do it before the end of 2017. This way, the contribution room will be reinstated, and you can put that money back in the TFSA in 2018.

As with any advice you should consult an advisor and see how these tips will fit into your overall financial plan! As usual, if you have any questions, please feel free to contact me at [email protected] or 905.333.4755 ext. 204. I would love to hear your feedback!

Jason A. DeJean,

CFP, PFP, EPC, CPCA

Investment Advisor I Financial Planner

101-5230 South Service Road, Burlington Ontario L7L 5K2

Office 905.333.4755 ext. 204

[email protected]

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