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Amazing!
Ответитьive found some foreign equity(us) through my Canada life benefits rrsp with a 25%+ rate and only 1% fees im really pressed not to max out my rrsp before my tsfa
Ответитьreally good video, i do the same videos for mexico, and now im living in canada, im learning!
ОтветитьThanks for the great content!
I have a question. Let's say I contribute to max it out all my limit (for sake of simplicity let's say it's $50k) . So I do a great investment and now I have $90k. If I withdraw $40k which is the amount above my room limit, do I still have to pay taxes and all that? What happens in that case? Asking because I earn that let's say all by dividends, which are tax free right?
Adrian , the OG . Thank you boss for all the info .
ОтветитьNice one Adrian. I am a new student in Canada and am trying to learn investment rules. I would appreciate it if you could guide me to an ideal short/medium-term investment of my savings from my home country. Thumbs up
ОтветитьIs TFSA employer match also exist?
ОтветитьWhat do you suggest to do with the employer matching RRSP account once you left the job and have tens of thousands in that account?
ОтветитьHi Adrian! Great video helping millions of immigrants know about taxation in Canada. I have a couple of questions:
1. Can you explain the 3-year attribution rule for RRSP.
2. If I am planning to buy a condo in Apr'24. Can I contribute to my RRSP in Jan'24 and withdraw after (90days) in Mar'24 for a downpayment in Apr'24 under the HBP Plan. Will my tax bracket still be reduced for the year 2024? Kindly guide.
on TD RRSP portal, there is a "RRSP USD" and RRSP CAD, 2 accounts. In order to benefit from this investing in high Yield U.S. Dividend Stocks/ETFs, (avoiding US withholding tax) do I must use the RRSP USD account or I can just buy stocks/etfs in the RRSP CAD account but as long as the currency is in USD?
ОтветитьHi Adrian if I make 62000 a year how much rrsp money should I contribute every year to take advantage in your opinion?
ОтветитьAwesome video. Super informative.
I agree that you shouldn't invest in risk assets in an RRSP, however, the Bitcoin ETF isn't risky.
Its the scarcest asset on earth.
Its time to let go of that silly narrative.
Im just new to your video. Im just want to ask if the RRSP and the CPP DEDUCTED every pay check is combined in the room together in my abailable room? Thank you in advance.
ОтветитьStay below the limit for sure!
ОтветитьI have a question, so I've got my pension locked in, but don't know what to do with it? I really want to buy land. please advise.
ОтветитьMy husband been working in a company for over 16 years and he had rrsp account in that company. But suddenly out of blue that company shut down, now we have no idea wether we should withdraw the money or continue keeping the rrsp. He wants to withdraw the money and put it house mortgage. Can you please share your thoughts on my husband situation.
ОтветитьYou keep saying it is tax shelter growth but this is not true. Actually it's even better to have growth in a non-registered accounts because only 50% of the capital gains are added to your net income on the year you withdraw it. Meanwhile, for RRSP, your growth is 100% added to your net income on the year that you withdraw it which makes it worse
ОтветитьThanks for the wonderful video. One question about RRSP contribution room… Will it change if I sell and buy different stocks within RRSP account? eg- sell 5k worth of shareA and buy 5k shareB?? Is this same as withdrawing and re-contributing?
ОтветитьHi I have an rrsp mutual fund in the bank, can I still change that to a Self investing RSsp without changing any of the contribution rooms? Thank you.
ОтветитьI watched this video a year ago and thought “wow T1213 that’s cool but who’s going to do that” little did I know that today I’d be sending it in to the CRA because I don’t like taxes
ОтветитьExcellent content!!
ОтветитьThank you!!
ОтветитьBrilliant content. Love it. <3
ОтветитьIf you have a high rrsp limit because you've never contributed before, are you limited to just the max per year?
ОтветитьIs there a video about rrifs? I am looking for the part 3 of your RRSP video where you spoke about withholding tax
ОтветитьHey Bro, I have some questions?
I have RPP (matching) and Group RRSP (not matching low management fee) at Canada Life, u think it is a good idea to contribute both retirement funds.
I just need your opinion.
Thank u!
I am a newcomer and I accidently contributed to RRSP. I later heard that I am not eligible for RRSP the year you arrive. What will I do? Should I withdraw the amount? WIll I have to pay 1% interest if not withdrawed?
Thanks
Does anyone know if the total contribution room on the cra site account for pension plan from employer?
ОтветитьAmazing series Adrian! You are doing an amazing job at explaining and breaking down all the concepts! THANK YOU!!! Um sharing these with all my friends!
ОтветитьI'm so glad you mentioned the pension adjustment since a lot of people don't know that. I'm one of those people. I have been contributing to my RRSP for almost 30 years and just found out a few weeks ago that the 18% of gross income is adjusted for pension contributions. Unfortunately, I did not bother to take a look at my RRSP contribution rooms for 2021 and 2022, since I thought I never contributed anywhere near 18% and thought I was ok, I didn't know that my pension contributions count towards RRSP contributions. I just found out that I have been overpaying for almost 2 years!!!! Ouch!!! I now have to file an over-contribution with CRA and pay that penalty. Thank you for wise advice.
ОтветитьVery helpful Video Adrian, thank you!! I do have a question about the contribution in first 60 days of the year. I think even if it cross beyond previous year room, it can still be counted towards current year estimated contribution room and not considered over contribution as long as I have enough room for current year based on estimation. Could you clarify?
ОтветитьHi Adrian. Your contents are very helpful. Can you please do a video on spousal RRSP. I have a personal RRSP but my husband doesn't have an RRSP yet. Can I convert my personal RRSP to a spousal RRSP and contribute to his RRSP but keeping within my contribution limit?
ОтветитьI have a question about what I call. A dead RRSP account i have with 30k in it. I recently started a new job that offers a group rrsp that matches contribution. So all my extra cash has been going into that account. But now I have this stagnant one thats been sitting there with no contribution. What should I do with it? Thanks! Should jote that the employer will not allow it to be transferred. I thought about maybe slowly withdrawing it and ttansferring it to my TFSA?
ОтветитьWhat happens if I move overseas and become a non-resident of Canada. I know I can no longer contribute, and I can keep holding my RRSP account. But what withdrawal tax rate would it be if I decided to withdraw later on?
ОтветитьHi Adrian, Thanks for your work👍. Arrived in Canada in July 2022. In this video, I learned that you can open an RRSP account only after you file your first tax return. But my employer offered me additional RRSP deductions so I opened an RRSP account and the employer deducted the RRSP the first year I arrived in Canada. Since I was not working in Canada in 2021, will these deductions be considered a cap violation, and will I be penalized?
ОтветитьI love your videos Adrian! One question, is the RSP account through Questrade the same thing as a RRSP? I just want to make sure I'm depositing to the right account and will be able to get the tax deductions.
ОтветитьWhere's Part 3 that refers to the First Time Homebuyer's Plan?🤔
ОтветитьThank you sir! I'm new at financial advising and I learn a ton thanks to you!
ОтветитьI wouldn't put money in an RRSP if I was young or in a low tax bracket, unless I already maxed out my TFSA. Having money grow in the TFSA means that those gains will never be taxed. Gains in your RRSP will be taxed when you withdraw it. And it may happen that when you retire your marginal tax rate could be higher than when you put the money in in the first place.
ОтветитьI wasn't aware of the T1213 form!! I also wasn't aware that I could contribute to an RRSP but claim the deductions later when I am in a higher tax bracket. Thanks for sharing that piece of info.
ОтветитьThe government duped Canadians with naming the RRSP and TFSA...
Canada has I think an F grading for hidden fees ..tied with Mexico's rating , apparently ...
If your RRSPs is in a Canadian or US MF or index fund
can they be transferred in kind to wealth simple or questrade..thank you
Great video, thank you! I am sure you know, just to add this here: there is one way you can withdraw and not loose your RRSP contributions through HBP Home Buyers Plan. Cheers!
ОтветитьI thought I knew RRSP until I watched your video... Thank you for the Value! Liked, subscribed
ОтветитьWould it be more beneficial in the long-term to invest in an RRSP account with a bank like TD through a mutual fund, or utilize an online brokerage like Wealthsimple and purchase stock...etc?
ОтветитьEQ is paying 3% now.
ОтветитьJust discovered you... I have watched 2 videos so, and I can honestly say I have learned a few things. I am subbed and will watch more... thx :)
ОтветитьGreat information, but you have to stop waving your arms on your videoes, it’s very distracting.
ОтветитьThank you.
ОтветитьGreat video. Very informative as a refresher for myself.
Could you do a video on RDSP- Registered Disability Savings Plan?