- I worked full time half the year then retired. I collected a severance of $34,000 which I rolled into an RRSP. My income tax receipt show the amount of deductions for the 2015/16 taxation year.Do I have to claim this this year or would it be preferable to claim it this year or next. Or must I claim it this year. I have not maxed out my contributions for the 2015 taxation year[…]
- Hello, I am wondering how Registered Retirement Savings Plan (RRSP) contributions can affect my return – will they increase my tax refund amount?
- Top Five Tax Breaks
- Should you open an RESP?
- Five things to know about capital gains
Posted February 5th 2016
With the February 29 RRSP deadline for the 2015 tax year fast approaching, it’s a great time to consider what savings vehicles are right for you. I know that for a lot of young Canadians like me, this is a difficult proposition. We consider vehicles like RRSPs only when we want to get serious about […]
Posted March 9th 2015
If you want to avoid paying the taxman more money than you need to, you need to know how to make the most of your situation. Here are the top five tax breaks that you could be claiming on your return this year: RRSP contributions: Any contributions you make are subtracted from your taxable income, […]
Posted February 10th 2015
Pension income splitting allows senior couples to save a significant amount of tax by transferring up to 50 per cent of qualifying pension income to their spouse or common-law partner. There are specific requirements and only certain pension income is eligible, but splitting income allows money to be moved from one spouse’s higher tax bracket […]