Would you like to save money for retirement while saving money on your tax bill?
Of course you would. Stupid question. But the Globe and Mail is saying that such a thing is possible and they’ll tell you how.
In simples terms: An allowed RRSP contribution can be deducted from you annual income. With a lower annual income, that means you pay less on tax. The video below can help explain the concept in a more straightforward and detailed way so you know exactly what you’re getting into. Check out the original article here, and as ever, don’t just trust what you hear from one source. Do your own research to see if it’s the right move for you.