RRSP Contribution Deadline 2016

By Bridge Force Financial Group Inc.
Edited by Admin
Back to Home
RRSP Contribution Deadline 2016
                                                                      RRSP Contribution Deadline 2016

Tips to help you make the most of your RRSP

  1. Know the deadline for RRSP Contributions
    • February 29, 2016

  2. Make your Maximum Contribution
    • 18% of 2014 income to a maximum of $24,930
    • Maximum amount you can deduct for each tax year is shown on your latest Notice of Assessment or form T1028.

  3. Establish a Regular Contribution Schedule
    • Starting a pre-authorized chequing (PAC) plan is an excellent option that will let you invest regularly and make your RSP year-round priority.

  4. Consider an RRSP Loan
    • RSP loans offered at attractive rates.
    • Helps you to catch up on your unused RSP contribution room.

  5. Make A Contribution in Kind
    • If you hold securities outside your RRSP, consider rolling them into your RRSP.

  6. Consider a Spousal RRSP
    • If your spouse is in lower tax-bracket than you are it may be advantageous to contribute to a spousal account.
    • By contributing to a spousal account, withdrawals at retirement will be taxable in the hands of the lower income spouse.

  7. Invest in a Tax-Free savings Account
    • Invest money outside your RRSP into a Tax-Free savings Account (TFSA)
    • Contribute up to $46,500 in 2016.
    • No tax on investment growth and withdrawals.
      8.  Talk to a BridgeForce Advisor
  • Saving for your retirement doesn’t have to be complicated.  To make sure you get the most out of your retirement nest egg, be sure to speak to a BridgeForce Advisor who knows your personal financial goals. 
    Click on Find an Advisor.