Goldman Sachs, the US investment banking giant, has issued a short-term alert over investing in India and China due to the impact of rising inflation, advising clients to rotate into Wall Street and other bourses as a safer bet over coming months, a media report said on Tuesday. “We’re not as tactically positive on the [...]
The costs of post-secondary education, however, are continually rising. According to Statistics Canada, one year of university can cost up to $13,000. Moreover, these costs are currently increasing faster than the inflation rate. What would that be in 10 or 15 years? A registered education savings plan (RESP) is an excellent opportunity for a service [...]
RRSP March 1, 2011, is the deadline for contributing to an RRSP for the 2010 tax year. December 31 of the year you turn 71 years of age is the last day you can contribute to your own RRSP. See Options when turning 71 for more information. RDSP The deadline for opening an RDSP, making contributions and applying [...]
Rollover of RRSP proceeds to a registered disability savings plan Under proposed changes, as of July 1, 2011, for deaths occurring after March 3, 2010, the existing RRSP rollover rules will be extended to allow a rollover of a deceased individual’s RRSP proceeds to the registered disability savings plan (RDSP) of the deceased individual’s financially [...]
1. What is an RSP? A registered Retirement Savings Plan (RSP) is an investment account designed primarily for saving toward your retirement years. As a retirement savings vehicle, regulated by the Canadian government, RSPs have special tax benefits. Your annual RSP contribution can greatly reduce the amount of income tax you pay in that year, [...]
