Canadian Banks | Forums | Terms of Use

Welcome to the Canadian Financial Forums forums.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   Canadian Financial Forums > Canadian Financial Forums > Retirement, RRSP & CPP

Reply
 
Thread Tools Display Modes
  #1  
Old 06-20-2008, 01:08 PM
sunshine sunshine is offline
Member
 
Join Date: Jun 2008
Posts: 62
Default RRSP vs Savings account

Does anyone know more about the new legislation that will kick off January 2009 - we will all be able to set aside additional $5000,00 but are they going to be taxable and can we withdraw them at any time. What is the difference between the current RRSp and the new savings account?...
__________________
sunny

Last edited by sunshine; 07-10-2008 at 03:22 PM.
Reply With Quote
  #2  
Old 06-23-2008, 07:02 PM
Canadian Canadian is offline
Senior Member
 
Join Date: Jun 2008
Posts: 415
Default

I've never heard of this before. Where did you read about this new accounts? Is this for Canada or Ontario only?
__________________
Bear with me please
Reply With Quote
  #3  
Old 07-10-2008, 03:23 PM
sunshine sunshine is offline
Member
 
Join Date: Jun 2008
Posts: 62
Default

Quote:
Originally Posted by Canadian View Post
I've never heard of this before. Where did you read about this new accounts? Is this for Canada or Ontario only?
It is for all of Canada I believe.
__________________
sunny
Reply With Quote
  #4  
Old 07-16-2008, 02:30 PM
Canadian Canadian is offline
Senior Member
 
Join Date: Jun 2008
Posts: 415
Default

Does anybody have a link to a Canadian government website with more details on this new type of account? What are the benefits of having one? Please post here if you are familiar with the matter.
__________________
Bear with me please
Reply With Quote
  #5  
Old 07-23-2008, 03:18 PM
heyjude heyjude is offline
Member
 
Join Date: Jul 2008
Posts: 38
Default Tax-Free Savings Account

I found it. It is called Tax-Free Savings Account

It starts in 2009 and you can contribute up to $5000 and the room can be carried forward which is great!
The contributions will not be deductable though. The withdrawals will be tax-free.


read more: http://www.budget.gc.ca/2008/plan/chap3b-eng.asp



p.s. it is great for people who have extra cash, but not me
Reply With Quote
  #6  
Old 07-23-2008, 05:54 PM
Canadian Canadian is offline
Senior Member
 
Join Date: Jun 2008
Posts: 415
Default

Thanks for the link!

I'll read the document tonight and I'll post here if I have any questions about this new account type.
__________________
Bear with me please
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 09:28 PM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2017, vBulletin Solutions, Inc.