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LIST
Evan Carson
Senior Investment Advisor
- CFA®
- CFP®
- FCSI®
10715 - 170 Street NW 2nd Floor Edmonton, AB T5P 0Y5Map
ADDITIONAL CONTACT
Toll Free: 1(833) 917-0381
Fax: (780) 448-8962
Branch Office: (780) 448-8280
Branch Fax: (780) 448-8686
LANGUAGES
English
Additional Information
Facts about RRSPs:
● Contributions are deductible against your income for Canadian income tax purposes, subject to your contribution limit, and are not taxed until you withdraw them as needed during retirement (ideally at a lower tax rate).● Taxable withdrawals can be made at anytime, not just during retirement.
● The annual contribution room is 18% of previous year’s earned income up to a maximum contribution limit, subject to pension adjustments.
● Your contribution limit for 2021 can be found on your Canada Revenue Agency Notice of Assessment for 2020.
● The deadline for 2021 contributions is 11:59 p.m., March 1, 2022.
● Contributions made in the first 60 days of a year can be used for the current year’s or the previous year’s tax filing.
Maximum Annual RRSP Contribution Limits
Facts about TFSA:
- TFSAs were introduced in 2009; unused contribution room carries forward to future years.
- If you have never contributed to a TFSA, you could be eligible to contribute up to $81,500 this year.
- Contributions are not income tax-deductible, but investment income earned and withdrawals are tax-free.
- Funds can be withdrawn at any time, subject to the terms of the investments in the plan, and can be recontributed in subsequent years.
- Like an RRSP, a TFSA account can hold cash, mutual funds, stocks, GIC, bonds,and more.
- TFSA withdrawals do not impact certain federal government benefit and assistance programs, such as child tax benefits, Old Age Security or other guaranteed income supplements.
Accumulated TFSA Contribution Room
You will accumulate TFSA contribution room for each year in which, at any time in that year, you were over 18 and a resident of Canada, even if you do not file an income tax and benefit return or open a TFSA.
Wealth Considerations
Investment Strategies
An investment strategy is an ongoing process that helps to keep the mix of assets in your portfolio aligned with your goals.
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