Registered Retirement Savings Plan (RRSP) allows you to save for your retirement. Person can use the amount to cover medical costs, travel or fulfilling the hobbies. Plan qualifies for various investment alternative like mutual funds, bonds etc. The contributions are tax deductible and the savings will grow tax free until you withdraw it.
Tax Free Savings Account (TFSA) allows you to save and grow your money that is free from tax. You are allowed to withdraw your money anytime without bothering about tax penalties. You can use this account for different investments like stocks, bonds, etc. The saved amount can be used for any purpose; emergency fund, child’s higher studies, buying home. There is a limit to your yearly contribution which is required to be followed.
Our staff can guide you in details and can open an account for you.