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Reload this Page RRSP vs Savings account
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  #1  
Old 06-20-2008, 02:08 PM
sunshine sunshine is offline
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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?...
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Last edited by sunshine; 07-10-2008 at 04:22 PM.
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Old 06-23-2008, 08:02 PM
Canadian Canadian is offline
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I've never heard of this before. Where did you read about this new accounts? Is this for Canada or Ontario only?
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Old 07-10-2008, 04:23 PM
sunshine sunshine is offline
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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.
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Old 07-16-2008, 03:30 PM
Canadian Canadian is offline
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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.
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Old 07-23-2008, 04:18 PM
heyjude heyjude is offline
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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
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Old 07-23-2008, 06:54 PM
Canadian Canadian is offline
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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.
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