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RRSPs in Canada

Review the basics on Registered Retirement Savings Plans (RRSPs) in Canada, including tax rules and planning and changes for the current year.

RRSPs - The Great Canadian Tax Break
RRSPs in Canada are a great tax break and an important element of planning for your retirement. Here are the basics.

Your RRSP Contribution Limit
How to check what your limit is for your RRSP contributions each year.

T4RSP Tax Slips
If you withdraw money from an RRSP the financial institution sends you a T4RSP telling you how much money you withdrew and the income tax deducted. Include a copy with your income tax return.

T4RIF Tax Slips
Financial institutions also issue T4RIF tax slips on Registered Retirement Income Fund (RRIF) income for Canadian taxpayers to use when completing their Canadian income tax returns.

Home Buyers Plan
The Home Buyers Plan lets first-time home buyers use money from their RRSPs to help finance a home without paying taxes on the withdrawal.

Lifelong Learning Plan
Under the Lifelong Learning Plan you can withdraw money from your RRSPs to finance training and education for you and your spouse or common-law partner. From the Canada Revenue Agency.

Registered Retirement Income Fund - RRIF
The year you turn 71 is the last year you can contribute to an RRSP. One option you have is to transfer the funds to a RRIF.

RRSPs - Canada Revenue Agency
This Canada Revenue Agency section on registered retirement savings plans contains detailed information you may need to complete your income tax return.

RRSPs - Investor Education Fund
Useful information on the basics of RRSPs, including how to choose an RRSP that's right for your. From the Investor Education Fund.

Canadian Retirement Income Calculator
This calculator estimates the ongoing income you may receive throughout your retirement to help you plan. It takes about 30 minutes to use. From Service Canada.

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