打听一下Rsp
- 主题发起人 comefrom
- 开始时间
It does not waive the personal income tax. In fact, it delays the income tax payment until you withdraw money from RSP account during the retirement. Well, during the retirement, people usually have less income. Thus, the tax will be less than the tax we pay today. (assuming the tax rate is the same).
Re: Re: Re: 打听一下Rsp
The rule of thumb is: if your annual income is lower than 35k, than RSP doesn't bring you any benefit.
However, Home Buyer's Plan, which is the up-to-20K withdrawal mentioned above, is a reason for your contribution to RSP even with less than 35k income.
Because, 1. you can delay your tax payable. it's like the government is paying part of your mortgage for you now, then you'll pay the government later. an interest-free loan.
2. you have 15 years to put the RSP you've drawn back to the RSP account.
Only two things to keep in mind, 1. the RSP you can draw for buying a home should be contributed to the account at least 90 days before the time of draw. 2. you have to be a first time home buyer.
The rule of thumb is: if your annual income is lower than 35k, than RSP doesn't bring you any benefit.
However, Home Buyer's Plan, which is the up-to-20K withdrawal mentioned above, is a reason for your contribution to RSP even with less than 35k income.
Because, 1. you can delay your tax payable. it's like the government is paying part of your mortgage for you now, then you'll pay the government later. an interest-free loan.
2. you have 15 years to put the RSP you've drawn back to the RSP account.
Only two things to keep in mind, 1. the RSP you can draw for buying a home should be contributed to the account at least 90 days before the time of draw. 2. you have to be a first time home buyer.
