ADMS 3530 Lecture Notes - Registered Retirement Savings Plan, Registered Retirement Income Fund, Canada Revenue Agency
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12 Jun 2014
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Rrsps are the canadian government"s way of helping citizens save their money for retirement. Most people buy mutual funds and place it in their rrsp. Spousal rrsp is when you and your spouse can make contributions. What is meant by the phrase rrsp s are a tax-deferral investment strategy? . Rrsp"s allow you to avoid paying tax on the amount that you contribute to your rrsp until 71 years of age. The amount that you contribute each year is subtracted from your annual taxable income which means you buy less income tax now. What is a rrsp contribution receipt? what is meant by the phrase tax- deductible? . Rrsp contribution receipts is an important tax sheet received each year that you make an rrsp contribution; you don"t have to make a contribution if you don"t want to. When you file your taxes every march, you submit the receipt to the canada revenue. Agency (cra) with all your other tax forms.
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