Strategies for those that are wanting to continue to maximize their tax credits leading into retirement and beyond.
Have you reached your RRSP contribution limit for the year?
Carol has reached her RRSP contribution limit for the year, and would still like 32.5% in tax credits. She can make her investment outside of an RRSP to still receive.
Want to maximize your tax credits within your RRSP before you RRIF?
Shelley and Gord would like to invest in Golden Opportunities right up until age 71 to maximize the tax credits they receive. Golden Opportunities now offers a Client Name Retirement Income Fund (RIF) Account which provides clients with a no fee option when the time comes to transfer your Golden Opportunities assets to a RRIF.
Did you invest in the Fund previously and have mature shares?
Roger invested in Golden Opportunities 8-years ago. This year, the units that he invested matured following the 8-year hold period, and he can “roll”/reinvest these units back into Golden Opportunities and receive an additional 32.5% in tax credits without investing any new money.
Looking to save but don’t have any new money to invest?
Diane doesn’t have any money to invest this year and could really use a tax credit. By simply transferring money from another existing RRSP, she can still make her annual Golden Opportunities contribution and receive 32.5% in tax credits.
Are you no longer able to contribute to an RRSP?
James is over 71 and can no longer invest in an RRSP yet he can still invest in Golden Opportunities outside of an RRSP for 32.5% in tax credits.