The 2023 RRSP deadline is Thursday February 29, 2024. Contributions made up to this date are included on your 2023 tax return and can be deducted against your 2023 income. Depending on your marginal tax bracket, you could see a tax savings as high as 53.5% on your contribution. Roughly speaking, if you earn more… Read More
The You First Blog
Here is the updated set of essential tax numbers for 2024. Working-Aged Individuals RRSP Maximum Contribution: The maximum new RRSP space generated is $31,560; for 2025 it will be $32,490 TFSA Space: $7,000 of new space. Unused space from prior years carries over FHSA Space: $8,000 of new space. Unused space from prior years carries… Read More
The deadline to contribute for the 2022 tax year is soon approaching. Depending on your marginal tax bracket, you could see a tax savings as high as 53.5% on your contribution. Roughly speaking, if you earn more than $50K a year, a $1,000 contribution will generate a $300 tax savings. If you earn more than… Read More
There are a lot of tax-related contribution limits, credits, thresholds to remember in our industry, so we’ve compiled this handy reference list. Maximum RRSP contribution: The maximum contribution for 2022 is $29,210; for 2021, it’s $27,830. The 2023 limit is $30,780. TFSA limit: In 2022, the annual limit is $6,000, for a total of $81,500… Read More
There is just over a month left to make an RRSP contribution that would allow you to claim a deduction on your 2021 tax return. We would like to remind you that if you have an Investia Nominee account (most of you now do), you can transfer money to us via the bill payment function… Read More
March 1, 2021 is the deadline for contributing to an RRSP for the 2020 tax year. Our office will send out multiple reminders between now and deadline day. Signing your contribution form is easier than ever. With our improved electronic consent procedure, you can now e-sign using your phone in as little as 30 seconds… Read More