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 […]
withdrawal
Tax Planning
Withdrawing from a RDSP
Withdrawing from a RDSP must begin before the end of the year the beneficiary turns 60 years old. However, withdrawals can happen at any age but there may be penalties. There are two types of […]
Tax Planning
Withdrawing from a LIF
Minimum Mandatory Withdrawals When Withdrawing from a LIF When withdrawing from a LIF, keep in mind the minimum and maximum withdrawal percentage. The percentages vary from province to province. Funds withdrawn from a LIF will […]
Tax Planning
Participating in the Home Buyers’ Plan
Thinking of buying your first home using your RRSP funds? You can withdraw your funds under the Home Buyers’ Plan without worrying about withholding tax. […]