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RRSP Contribution Deadline 2016

By Bridge Force Financial Group Inc.
Edited by Admin
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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.