TFSA might be the better tax choice this RRSP season: Dale Jackson
BNN Bloomberg
RRSP season is driven by two basic human emotions; fear and greed.
Fear that your registered retirement savings plan will not get you to your life-goal when you want, and greed for that yummy tax refund in the spring.
Whatever motivates you, keep that contribution in your pocket for now. Even if you don’t beat the March 2 contribution deadline, your total available amount can be carried forward to present and future tax years.
In some cases, contributing to a tax free savings account (TFSA) can bring bigger savings.
For investors with a longer-term view to retirement, the right combination of both might deliver a bigger bang.
A good overall tax strategy can keep thousands of investment dollars invested and compounding over time. A qualified advisor should be able to help, but here are a few basics for a clearer view.
Israel killed another top Iranian official -- the intelligence minister -- in its campaign against the Islamic Republic’s leadership, and an Iranian offshore natural gas field was struck Wednesday amid the war’s escalating pressure on the region’s economic lifeblood: energy.
Canadian and U.S. stock markets fell on Wednesday amid interest rate decisions from the Bank of Canada and the U.S. Federal Reserve, with both central banks acknowledging inflationary risks from the war in the Middle East.
Israel killed another top Iranian official -- the intelligence minister -- in its campaign against the Islamic Republic’s leadership, and an Iranian offshore natural gas field was struck Wednesday amid the war’s escalating pressure on the region’s economic lifeblood: energy.
Bank of Canada holds rate at 2.25 per cent as growth weakens and oil-driven inflation risks rise amid geopolitical uncertainty.
U.S. stocks are sinking Wednesday after a discouraging report said inflation was primed to worsen, even before the war with Iran sent oil prices spiking.
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Two Canadian cargo ships are stuck in the Persian Gulf and unable to pass through the blocked Strait of Hormuz as the war in Iran continues.
U.S. stocks are sinking Wednesday after another climb for oil prices raised worries about inflation, which may have been primed to worsen even before the war with Iran began.
U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.
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A key question hangs over the Federal Reserve’s two-day meeting that ends Wednesday: Will central bank policymakers still reduce short-term interest rates this year, now that the Iran war has sent oil prices higher and gas prices spiking? Or will they have to stand pat for months to see how the conflict plays out?
Wall Street followed global markets higher Wednesday and the price of U.S. crude fell eased despite a new barrage of attacks by Iran on its Gulf neighbors.