It's possible to have 'too much' in your RRSP: Tax expert
It's possible to have 'too much' in your RRSP: Tax expert
As the deadline for registered retirement savings plan (RRSP) contributions approaches, one tax expert says it is possible for Canadians to have too much of their savings in a RRSP.
John Yanchus, director of tax and estate planning at Canada Life Assurance Company, said residents need to remember that when they withdraw funds, the payments are “fully taxable.”
“So if you have a large pool of money, it can end up into a larger tax consequence at the end of time,” Yanchus said in an interview on Wednesday.
Was your 2022 tax refund larger than you expected it to be? For many, this likely comes as a pleasant surprise. However, overpayments are likely the result of a mistake on your part or the Canada Revenue Agency. If you don’t amend your returns and the overpayment isn’t returned, you could end up in hot water.
As economic conditions make it harder to qualify for a mortgage, Canadians are increasingly looking to alternative lenders, particularly amid interest rates. CTVNews.ca looks at why Canadians are seeking private lenders and the potential benefits and risks attached to them.
The federal government's latest TFSA contribution limit increase took effect this year. On CTVNews.ca, personal finance contributor Christopher Liew outlines eight tips on how Canadians can get the most out of this popular savings account.
There are going to be some changes to Canada's tax brackets as we move into 2023. These changes could impact how you’re taxed when you file your 2023 income tax returns next year.
Food bloggers and cookbook authors say meal-planning and simple recipes can help home cooks put together filling and tasty dishes on a budget -- an increasingly stressful challenge amid rising food prices.
The Better Business Bureau says Canadians fell for home improvement scams the most in 2022, in a report highlighting the riskiest scams and how much money they cost Canadians.
In light of new poll results that found Canadians are spending a lot of time worrying about money, one personal finance expert shares some simple tips to help Canadians avoid making some common, costly mistakes with their cash.
