RRSP contributions stats for 2008

[trent]

According to the annual Investors Group RRSP exit poll 31% of eligible Canadians contributed to RRSP, which is 6% lower than the year before.

I guess the new TFSA accounts had something to do with that.

[Canadian]

Originally Posted by trent

According to the annual Investors Group RRSP exit poll 31% of eligible Canadians contributed to RRSP, which is 6% lower than the year before.

I guess the new TFSA accounts had something to do with that.

I really like the TFSA better. You can grow your money forever without paying tax on income, and that's simply great.

[trent]

Originally Posted by Canadian

I really like the TFSA better. You can grow your money forever without paying tax on income, and that's simply great.

The only problem with this is that the government can change the rules at any time and start taxing the income on these accounts for example. Of course similar things have happened throughout human history in many countries, so I won't be surprised if revenue strapped government does this in a few years.

[bullish]

Originally Posted by trent

The only problem with this is that the government can change the rules at any time and start taxing the income on these accounts for example. Of course similar things have happened throughout human history in many countries, so I won't be surprised if revenue strapped government does this in a few years.

The government will never tax TFSA income.

[trent]

Originally Posted by bullish

The government will never tax TFSA income.

How can you be so sure? They said that they would never milk the income trusts, but they did, didn't they?

[Canadian]

Originally Posted by trent

How can you be so sure? They said that they would never milk the income trusts, but they did, didn't they?

This is so typical for the government. They will do anything to stay in power, and increase the government size...