Category: Taxes

Advice on minimizing taxes in your retirement

I owe money on my taxes. What can I do?

— Anonymous FPAC responds: Tax season is over and many do get excited when anticipating a big tax return. But if you owe money, on the other hand, you might feel a little defeated—or...

Your Ontario staycation just got cheaper

After two long years spent mostly at home, many of us are itching for a fun getaway. Plus, with the epic delays and flight cancellations at Toronto Pearson right now, a road trip has...

How do the RRSP contribution carry forward rules work?

The rules around RRSP contribution room  As soon as a taxpayer starts to earn income—like employment income, self-employment income, royalties, research grants or net rental income—they accumulate room for their registered retirement savings plan...

Why contributing to a TFSA is a good resolution

Try to avoid putting U.S.-based dividend-paying stocks or ETFs in the TFSA. Instead,put those into your RRSP or your registered retirement income fund (RRIF). Canadian dividends and interest belong in TFSAs, as do speculative...