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 Your
Money Matters
January 2012
Issue
Registered Retirement Savings Plan Deadline Looming
RRSP CONTRIBUTION LIMIT
The contribution limit for the 2011 tax year is the lower of $22,450
or 18% of earned income in 2010, less your pension adjustment (PA),
whichever is lower. Don’t forget that you can use your “unused RRSP
room from previous years.
RRSP CONTRIBUTION DEADLINE
The deadline for making RRSP contributions for the 2011 tax year is
Wednesday, February 29, 2012.
RRSP LOANS AVAILABLE
Here at Money Concepts/Investia Financial we have RRSP loans at
attractive rates for as little as $2,500, as long as it is done
prior to February 10, 2012.
TAX FREE SAVINGS ACCOUNTS VERSUS RRSPS
Although each situation is different, if you aren’t sure which is a
better option. (RRSP get a tax deduction up front and taxed later
when you take the money out) (TFSA no tax deduction, but no tax on
the growth or principal when you take it out later) Please do give
Pierre or myself a call and we will help you with the decision.
Thanks to all who have recently referred their friends and family to
our office. Your trust is much appreciated.
Theresa Wever and the Money
Concepts Team.
Commissions,
trailing commissions, management fee and expenses all may be
associated with mutual fund investments. Please read the prospectus
before investing. Mutual funds are not guaranteed, their values
change frequently and past performance may not be repeated. |
