Question 1

Registered Retirement Savings Plans (RRSP's)

Accepted Answer

A registered retirement savings plan (RRSP) is a government-approved account that allows Canadians to plan for retirement. First introduced in 1957, RRSPs provide a way for individuals to save and invest their money in a tax-efficient manner. Annual contributions to an RRSP can be used as a tax deduction, which reduces the amount of tax a person will pay on their income. In addition, all capital gains and dividends aren’t taxed a long as the money remains in the RRSP.

We are happy to help you plan your retirement and diversify your weath using RRSP's.

Question 2

Non-Registered Savings Plans

Accepted Answer

A non-registered account is a type of investment account that is subject to tax when income is earned on investments held in the account. A non-registered account is sometimes called a “taxable” or “open” account.