- Paid out every 3 months
- Registered accounts eligible
- Minimum subscription $3,000
- Available everywhere except QC
- Principal paid on maturity
- Early redemption available
Interest paid quaterly
Return principal on maturity
By the Canadian Securities Commission
8 operating Locations
British Columbia and North side of Ontario
No inventory and bad debts are asset
Saving money can be hard when there are so many demands on your paycheque. However, the government has designed a variety of programs to boost your savings through tax breaks and other incentives. While each program works differently, the objective is the same: to keep more of your money working for you.
- A registered retirement savings plan (RRSP) is a personal savings account that has special tax advantages.
- Your contributions are tax deductible and taxes on any investment growth are deferred until withdrawn.
- You’ll have more of your income available for your current needs, even while you’re saving for the future.
- A tax-free savings account (TFSA) allows you to save money for any purpose, without paying taxes on the investment growth.
- If you’re 18 or older, you can save up to $6,000 every year in a TFSA.
- Your contributions will not be deductible for income tax purposes, but investment income, including capital gains, will not be taxed, even when withdrawn.
- A registered education savings plan (RESP) is a tax-sheltered way to help you save for a child’s post-secondary education.
- Parents, grandparents and friends can contribute to a lifetime total of $50,000 per child – and any investment growth is not taxed until it is withdrawn.
- Automatic government grants can make your RESP grow even faster.