RRSP

IPP – Supersize Your Retirement Savings

Many Canadians have seen their RRSPs take a significant toll in the markets during this Global Recession. Most can do little more than hope for a quick recovery. But there is another option. It’s called Individual Pension Plan (IPP). What’s IPP? IPP stands for Individual Pension Plan. It is perhaps the least known, yet...

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Average Annual Household Income Canada

Average Annual Household Income Canada

The other day I posted an article on Average Annual RRSP Contribution in Canada for Year 2007. The maximum RRSP contribution limit was $19,000 for year 2007; however, the national median contribution that year was only $2,780. Because of such a huge discrepancy, I decided to do a search on how much an average...

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How to Calculate RRSP Contribution Room

How to Calculate RRSP Contribution Room

How is RRSP Deduction Limit / Contribution Room Calculated? Long Definition: a taxpayer’s RRSP deduction limit for a year is equal to 18% of the taxpayer’s earned income for the previous year (to a maximum amount) minus an amount in respect of benefits that accrued to the taxpayer under registered pension plans (RPPs) and...

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RRSP – national average annual contribution

Is your RRSP contribution up to par? According to Statistics Canada, RRSP contributions rose 5.3 per cent to $34.1 billion in 2007 with the following trends. Newfoundland and Labrador The highest percentage increase in the number of RRSP investors (up 5.3 per cent) Quebec The largest increase in absolute number of RRSP investors, at...

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Feature Story

How Much Do First Nations Chiefs Make Annually across Canada?

Chief Ron Giesbrecht in BC took home almost $1,000,000 INCOME TAX FREE! His band has a population of only 82!!! Chief Jim Boucher in Alberta claimed an annual salary of...

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Top Financial Stories

How Much Do Tim Hortons Owners Earn Annually?

Tim Hortons store owner pockets each year: $265,558 and more (after tax & interest)!!! In year 2002 for an average Tim Horton's outlet: Gross earning: $1.5Million...

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