What to consider if you still have RRSP contribution room

Author: External Author | | Categories: Accountant , Corporate Tax Planning , Corporate Taxes , Financial Statement Preparation , Payroll Services Montreal

With just weeks left before the contribution deadline, a Certified Financial Planner rounds up key facts and common RRSP myths. Registered retirement savings plans (RRSPs) have been around since 1957, and each February is commonly referred to as “RRSP season.” The banks and financial media used to make a bigger deal about RRSPs in the new year, but ever since Tax-Free Savings Accounts (TFSAs) were introduced in 2009, RRSP season has seemed a bit watered down. That does not mean RRSPs are not good tax and investment options, it just reflects the fact that Canadians now have alternatives. 

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Original Article Source Credits: Money Sense, https://www.moneysense.ca

Article Written By: JASON HEATH

Original Article Posted on: JANUARY 25, 2021

Link to Original Article: https://www.moneysense.ca/columns/ask-a-planner/rrsp-contribution-myths-and-facts


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