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
165
RRSP’s and TFSA’s – Quick Facts
RRSP
Deadline is March 1st, 2018
Limit is 18% of your previous years income to max of $26,010, minus any pension plan contributions.
Tax deduction when you contribute, taxable when you withdraw.
Investments grow tax free.
Canadian residence with earned income are eligible.
TFSA
No deadline.
Limit is $57,500 lifetime, with the limit being increase by $5,500 for 2018.
No tax deduction when you contribute and no tax payable when you withdraw.
Investments grow tax free.
Canada residence 18 years of age or older start to accumulate room.