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short term its good for income balancing--say you make $70k one year and $30k the next-- buy an rrsp on the high year and sell on the low year-- long term rrsp suck-- the government kills you at the end with taxes and they constantly change the rules---- alternative methods are borrow to buy a revenue property-- and live in it---write off the interest and all expenses (proportional)
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Can a life insurance agent can sell RRSP and TFSA products?
yes
How long does it take to transfer money from rrsp at manulife to bank?
2-5 days
What are the Advantages of business letter?
what are the advantages of a business letter?
Advantages and disadvantages of bill of exchange?
advantages of bill of exchange
What is the advantages and disadvantages of credit policy?
advantages of credit policy
How would one go about contributing to a RRSP?
The amount you can contribute depends on your RRSP deduction limit. You can find your deduction limit by looking at your 2011 Tax Return. Your RRSP deduction limit is the amount of RRSP contributions that you can deduct on your tax return for a given year.
What is the difference between a RRSP and a RRIF?
an rrsp withdrawals do NOT qualify as a pension income. the RRIF withdrawals do qualify as pension income.
What is a self directed RRSP?
check out http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/cntrbtng/slfdrctd-eng.html
What is a self-directed RRSP?
check out http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/cntrbtng/slfdrctd-eng.html
In a divorce in Ontario Canada is his and her RRSP's part of divorce settlement or is it untouchable even if one is much higher than the other?
No it is not untouchable. In order to quantify the RRSP, one has to obtain the services of a profeesional. Also it depends on the RRSP and how the contributions are made. Rgds
Where can I find an RRSP retirement calculator?
This 2 step Retirement Calculator will help you: Determine if your current and planned RRSP contributions, as well as any other income you receive, will meet .
Can a life insurance agent can sell RRSP and TFSA products?
yes
Which websites have a RRSP calculator?
Most Financial Institutions websites have an RRSP calculator. Many insurance providers have them available as well. Also, you can check your local government's website for the calculator and more information on RRSPs.
Can rrsp's be garnished due to a civil suit?
Registered Retirement Savings Plans The courts have held that where funds are deposited in an RRSP, a trust relationship, and not a debtor-creditor relationship, is created between the bank and its customer. Consequently, the courts have generally held that an RRSP is not subject to garnishment. There is a case of the Federal Court of Canada Trial Division which has come to the opposite conclusion, but it would appear that the weight of authority provides that RRSPs are not attachable until he owner of the RRSP actually collapses it.Source: http://www.scarfonehawkinsllp.com/faq_details.asp?faq_id=1004
Can you convert a Canadian rrsp to a us IRA?
Not if you're trying to avoid paying Canadian taxes and you're not yet qualified in Canada to make withdrawals: It would be considered an early withdrawal from the RRSP and be subject to both taxes and penalties.
What is the penalty for Alberta early withdrawal from Canadian RRSP?
no penalty. with holding tax only
How long does it take to transfer money from rrsp at manulife to bank?
2-5 days
