Taxes
Tax Deductions and Tax Credits: What’s The Difference?
Canadian taxpayers have until April 30th 2020 to file their 2019 taxes. However, as the calendar turns over to a new year many Canadians want to know how best to maximize their tax refund or minimize what they owe the government. The two main ways to reduce taxes owing are through tax deductions and tax…
Read MoreRRSP Over Contribution Limit And Carry Forward Rules
Your current year’s RRSP contribution limit is 18% of your previous year’s earned income, to a maximum of $26,500 (2019) plus any unused contribution room carried forward from previous years. There’s some confusion around the RRSP over contribution limit and RRSP carry forward rules. This post explains both of these rules. RRSP Over Contribution Limit…
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