Canadians - Should Your Savings Be In An RRSP or TFSA?...or Both?
Canadians - Should Your Savings Be In An RRSP...
HOMEABOUTSERVICESWHY CONNECT?CLOUDXERO ACCOUNTINGWAVE ACCOUNTINGFRESHBOOKSKASHOO ACCOUNTINGQUICKBOOKS ONLINEPAYROLL & INVENTORYBLOGCONTACT Should your savings be in an RRSP or TFSA?...or Both? Posted by ConnectCPA on Aug 03, 2015 at 3:25 pm Before 2009, deciding on a savings account was pretty easy…. You either had a standard savings account earning a nominal amount of interest that you were able to dip into anytime the going got tough OR you contributed to a Registered Retirement Savings Plan (RRSP). Easy enough. Starting January 1, 2009, the Canadian government introduced the Tax-Free Savings Account (TFSA). Essentially, the plan allows you to earn investment income (through a variety of investment vehicles) tax-free. Yes,...Read Moreaccountantvip