IPP vs RRSP
Tax Planning

IPP vs RRSP

IPP vs RRSP? What’s the difference? You may have heard people ask this. Below we’re giving you the answer. Individual Pension Plan is a employer sponsored defined benefit pension plan whose goal is to provide […]

Rca pension plan
Tax Planning

Understanding a RCA Pension Plan

A Retirement Compensation Arrangement (RCA) is a pension plan where a custodian holds funds contributed by an employer for the purpose of distributing it to the employee in retirement. A RCA pension plan is often […]

Deferred Profit Sharing Plan
Tax Planning

Withdrawing from a DPSP

When withdrawing from a DPSP, also known as a Deferred Profit Sharing Plan (DPSP), make sure that your vesting period has passed. If you’re wondering what a vesting period is, we’ve detailed it below. To […]

Unlock LIRA
Tax Planning

Withdrawing from a LIRA

Withdrawing from a LIRA can be complicated if you don’t know where to begin. Locked In Retirement Accounts requires the completion of applicable forms and meeting certain requirements that vary province by province. As each […]

RRSP Contribution
Tax Planning

Rules of RRSP Contributions

Anyone who has “earned income” such as employment earnings can contribute to an RRSP – up until December 31st of the year they turn 71.  Earned income may also include self-employment income, CPP/QPP disability payments, and net rental […]

Deemed Disposition at Death
Estate Planning

Deemed Disposition on Death

At death, an individual is considered to have disposed of all of their property of value such as investment accounts, real estate, shares in a private company, cars and more! For property that has increased in value, an individual would be responsible to pay capital gains. […]