Your contribution will
get you a juicy tax rebate, but you pay tax when you take the money out (which is usually at a lower tax rate if you're retired).
You not only
get a juicy tax rebate when you contribute, but your money grows tax - free until it's withdrawn.
Up until a decade ago, smart investors could
get juicy tax - free returns of 8 % to 12 % by investing in income trusts.
Mortgage payments don't enjoy tax breaks, but RRSP contributions will
get you a juicy tax rebate.
After all, these new accounts (called TFSAs for short) seem much like the RRSPs we already have — but not as good, because you don't
get a juicy tax refund when you contribute, and you're allowed to put in only $ 5,000 a year.
Not exact matches
My approach is a little similar to DivHut above, but focused on Aussie shares where we
get those
juicy Franking Credits, especially in a low -
tax account.
As a TREB member, I further suggest that all the staff of TREB / OREA / CREA have their remuneration packages changed from employee (a la Fed / Prov public service) to independent - contractor
tax - status (just like us) and their contract gross compensation (yes, + HST AND forget the
juicy benefits / vacations etc - pay for them yourself too — just like us) cut by 1/3 -1 / 2... BUT with a possible bonus (to
get their gross $ $ possibly back up to where they were before) based on the number of sales arranged across Canada - this bonus would be pro-rated to the # sales in the recent peak ie if sales dwindle.....