Background Layout- Theme Transition II 1 | 2. il 3 | 14 | ADVANTAGES Ban fi RRSP investments growth are tax-free - the returns are exempt from any capita gain tax or dividend tax etcs. The...

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Extracted text: Background Layout- Theme Transition II 1 | 2. il 3 | 14 | ADVANTAGES Ban fi RRSP investments growth are tax-free - the returns are exempt from any capita gain tax or dividend tax etcs. The contribution made to the RRSP is deducted from the pre tax income- thus reducing tax liability RRSP contributions reduce their taxable income RRSP's are protected from creditors The income earned in an RRSP is not taxed until it is withdrawn You get a tax refund every April if you invest in an RRSP Pros No withholding tax on US Dividends with an RRSP The income earned is not tax until the time of withdrawal, which is usually the retirement age, where the tax rate is lower then during working days The withdrawals can be made at any age, there us no age limit to withdraw ADVANTAGES caker notes


Extracted text: Majois. nge Tools Add-ons Help Accessibility Last edit was seconds ago D Present Background Layout- Theme Transition I 1 | 2 I DISADVANTAGES RRSP withdrawals can impact Federal benefits December 31 of the year you turn 71 years old is the last day that you can contribute to your RRSPS RRSP withdrawals can impact the federal benefit - they can have negative impacts on the benefit you may receive such as OAS and GIS RRSP contribution limit is based on your income RRSP withdrawal is heavily taxed disadvantages Cons RRSP notes