Tuesday, May 5, 2020

"Non-Resident"? Make those contributions to your RRSP if you can't to your TFSA

Ultimately, TFSA is a superior investment package/vehicle/product to that of an RRSP.

Fact: Non-residents cannot contribute to a TFSA

Fact: Non-residents lose the contribution increase to their TFSA if they are a non-resident for the taxation year

Fact: TFSA's cannot be purchased by a non-resident

Fact: RRSP's can still be contributed to while a non-resident

-->but how much of your salary can you contribute to your RRSP?


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