We give a broad overview of a few government programs like the TFSA, RRSP, RESP, etc. and how to avoid common pitfalls. To confirm a couple of things, we did record this before the election was announced and released it after, please don’t be confused by our comments on that. What year did the government give us $10,000 in contribution room was 2015 - yay for our memories. We touch on the contribution room briefly and there are several sources out there that say you can’t lose your contribution room, which is true unless you invest it into a stock or other instrument that goes to 0. In the same way the earnings aren’t taxed, the loses within a TFSA aren’t tracked either, once you contribute to your TFSA that’s what is being tracked. Our take away for this week is to open a TFSA! Listen to the full episode for our thoughts on all the other programs and let us know what you think.
Pink Tax Rebate: Get a TFSA! That's it, that's all, we love this for everyone!
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