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Retirement Tax Tip #3

SUMMARY RRSP must convert to RRIF when annuitant turns 71 Minimum annual withdrawals from RRIF start when annuitant turns 72 Younger spouse’s age may be used to determine withdrawal prescribed factor Lower withdrawal factor requires lower minimum withdrawal Lower...

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Retirement Tax Tip #2

SUMMARY  Most income sources in retirement are taxed By timing the withdrawals from your RRSP/RRIF and deferring your CPP benefits, you can maximize the Guaranteed Income Supplement (GIS) GIS is not taxed and provides tax-free cash flow in retirement A maximized TFSA...

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