Ontario Community Newspapers

Waterloo Chronicle (Waterloo, On1868), 18 Feb 2016, p. 17

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mammaomreuu-y lama-11 0 O 0 Last minute tax-savmg an RRSP g tips he deadline for making your 2015 - You can fill your unused contribution - If your spouse’s income will be lower you tetirewltbmoremomy. I contribution to investment. held in room in a single year or over a number of than yours over the next few years or in But to w the tedument of your Registered Retirement Savings years until the end of the year in which you retirement. splitting income by way of a your dreams, you also build a well- Plan (RRSP) is only a few days my _ but reach age ”(or the end of the year your spousal RRSP can generate retirement balanced non-regulated ism: portio- you can still enhance your retirement nest spouse/common-law partner turns 71 if he incomethatissubiecttoiesam lb. egg and save on taxes when you take “gym. or she is younger). The plan is in your spouse's name but For the financial planning m (age of these last-minute RRSPtips. you contribute to it and receive the tax work best for you. talk to your RRSPtlpathatdefiataaaa. deducdtm. advisor. mpmmua mammals-d Mtotalcontributiomcan‘temeedyour . ' W ‘ ‘ Winsome personal my contribution room. but your ‘ no - Feb. 29. 2016, at 11:59 i yr 1 ‘ spouse's is unallected by your contri- mumlwnnupmiubysmhmawpm- pm, is the dudhnc for con. '\|( )\ l \ ' Maximizing your RRSP button WWW Wham tributing to investments in contribution this year (and These RRSP tips and a law other RRSP mmmmnwiuuwm your RRSP for the 2015 tax every year) is often the best strategies will save taxes and help m&4l uptown-endowment. year, _ strategy for tax savings and ' g - SQ ‘ maximizing potential Iong- ‘ 1 0 The maximum contribu- term growth. 1 tion room that can be created , 47 for 2015 is $24,930, depend- ax ' Catch up on your ' g a ing on your gamed income in unused contribution room 2 r ‘J‘ , t , ‘ ii 2014 (and minus your pen A from previousyearsaaqulck- ~ ' ' ‘ ‘ ' i. iv " " ‘ . slon adjustment, it applica- ’ ly as possible for additional , a ‘ . ‘ i v of i ‘ l | t l__ blelt savingsandenhancedlong- ii: ll ’ .-‘ | {fig 1 , Jr 3 h ,, RUSS minim ' l~ 4 i ‘ ,' ‘ [1‘ j ,_ t“ | r a , A do“, M you, person“, McEACHNIB t alums 1» "limit . v s ft.- m. a" of“: vi» a“ t . maximum allowable contri- ' An RRSP loan can help ‘ bution on your most recent notice of assese you maximize this year's contribution "Id ment from the Canada Revenue Agency (on “it?! up on PM contribution room. line (A) of the mp Deduction Umlt State- The m3“? borrow will ”31;st â€" met“), tax break (0m tax-deferred _ potential. 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