CSIM

Whether you decide to contribute to one or both, you can maximize their benefits by using RRSPs and TFSAs strategically.
RRSPs:
- There’s a tax deduction on contributions
- Investments are tax sheltered until you withdraw
- You can dip in for a downpayment or studies
- You can withdraw anytime and be taxed – if it makes sense that year
- You can use spousal RRSPS as an income splitting tool
TFSAs:
- There are no tax deductions on contributions
- You keep everything your investments earn – and won’t pay tax on interest income, dividends, or capital gains (with the exception of certain withholding taxes on foreign investments)
- There’s no tax on withdrawals
- If you withdraw funds, you can recontribute that amount in the future
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A Tax-Free Savings Account is a flexible way to save money and grow your investments, tax-free. Learn about the benefits of a TFSA and how this account can help you reach your financial goals. https://www.facebook.com/MDFinancialManagement/posts/pfbid0uLCNd9BSuk5N7LX3dRctKJ8fDnmBxuiApEJuB87QKhj9dTgeEMduM59zTJ2MxqvDl