Featured Article LIRA vs RRSP: what’s the difference? Let’s start with the similarities. A Locked-In Retirement Account (LIRA) and a Registered Retirement Savings Plan (RRSP) are both investment vehicles that help you save for your retirement. However, there are some important differences. March 24, 2022
How does the disability tax credit work? People with disabilities face costs that other taxpayers don’t, such as attendant care, special devices and computer software. In addition, they are more likely to be able to... Read more
What happens to an RRSP when you die Nobody wants to consider their own death, but it’s important to plan carefully so that your family is not hit by a huge tax bill. Read on to learn more about what happens... Read more
Guide: How To Incorporate in Alberta When you start a business, one of the first decisions you must make is whether to form a corporation or operate as a sole proprietorship. The costs and legal liabilities are... Read more
Everything you need to know about the Trillium Drug Program This is an Ontario program that helps residents of that province to defray the cost of prescription drugs. There are a lot of restrictions – you are most likely to qualify if... Read more
A Short Guide to Malpractice Insurance in Canada Professional malpractice insurance covers health and wellness professionals in the event that they are sued by a patient or client. A number of professions, including doctors... Read more
What is a third party administrator in Canada? Third party administrators are benefits experts who offer flexible options to small, medium and large companies. While they are not as well known as the big insurance... Read more
What is considered major restorative dental coverage? Many Canadians have dental insurance through their employer or that they have purchased. The question is: Does their plan cover only basic dental treatment or also include... Read more
How are Registered Retirement Income Fund (RRIF) withdrawals taxed? Some Canadians are shocked when they realize that they must pay tax when they retire and start withdrawing money from their RRIF. However, it’s only fair. When you put funds... Read more
A brief guide to the child tax benefit in Canada The federal child benefit is a government of Canada program to help families defray the cost of raising children. If you have a child under the age of 18, read on to learn... Read more
Can you transfer an RRSP to a TFSA? You certainly can transfer stocks and other investments from your RRSP to a TFSA. However, there may be tax implications. So, the big question: Is it a good idea? Also in... Read more
