This account is registered with the Inland Revenue Department , the annual deposit money in this account can be used to tax cuts , the amount can be deposited into this account is limited to a maximum amount written on the annual tax return to the Inland Revenue Department ‘s letter (Notice of Assessment ) .
RRSP contributions can be directly deductible in the year or in the future , reducing the tax burden ; invest in RRSP proceeds under ( including interest , dividends and capital gains ) can grow tax-free , until it is extracted from the accounts. Individuals pay taxes extracted . When the extraction of total household income as pension accounting in accordance with the amount of tax actually paid the tax would be less , or even tax free .
Purchase plan (Home Buyer’s Plan HBP)
First time home buyers a maximum withdrawal limit of $ 25,000 per person , house purchase program (Home Buyers Plan) allows first-time homebuyers to extract up to 2.5 million payment from your RRSP account for the down payment .
Lifelong Learning Plan (LifeLong Learning Plan LLP)
Allows people to finance their own or spouse withdrawals from their RRSP in studying , money is not taken out of the tax , in any one year , but the money must be taken out to repay the extracted average amount in 10 years.
When faced with unemployment , the situation is due to illness or injury and can not work, and funds RRSP account can also play as a reserve without emergency function of time .
However, once the withdrawal of funds from the RRSP account, the funds will be treated as income of the year to tax. Therefore, people in high-income when RRSP contributions , withdrawals from the RRSP account at the time of low income , thus reducing the amount subject to tax .
We offer a wide range of insurance products such as :
1. limit life insurance, mortgages or mortgage insurance
2. Permanent life insurance
3. In critical condition and disability insurance
5. Travel Insurance