Pensioners still unclear about OAS and CPP Options As a a result of significant pension reforms, the way Canadians contribute to and access their public and private pensions has changed recently and there are New Options available. Calculating estimations on taxes payable for 2018 as a result of income splitting opportunities is important too. Deferring […]
RESP: FAQs Our child was born recently and we have not received a social insurance number (SIN). Can we still open an RESP account? No. The SIN is a required piece of information of the beneficiary that is needed to open the account. Please contact Service Ontario for more information on your child’s SIN. What […]
TIME/CONTRIBUTION LIMITS INDIVIDUAL PLAN FAMILY PLAN Annual Contribution LIMIT None None Annual Basic CESG LIMIT $1,000(provided beneficiary has adequate grant carry forward room) $1,000(provided beneficiary has adequate grant carry forward room) Lifetime Contribution LIMIT $50,000 $50,000 per beneficiary Lifetime Basic and Additional CESG LIMIT $7,200 $7,200 per beneficiary Contribution Time LIMIT Up to the 32nd […]