RP Success Blog
I think at times we tend to over simplify the TFSA product. It is not only the members who are treating this like an in/out savings account and it also our credit union staff. When setting up monthly deposits we need to confirm with the member that s/he wants to save, meaning put the money in and not take it out until some year in the future. More
Did You Know...
2016 new TFSA room is $5,500. Members who have not yet opened a TFSA anywhere, have been accumulating TFSA room since 2009, provided they were age 18 or older than. $5,000 for each year, 2009, 2010, 2011, 2012 plus $5,500 for 2013, 2014 plus $10,000 for 2015 and now $5,500 in 2016. So their accumulated 2016 TFSA room would be $46,500. Read more
For an adult beneficiary who qualifies for the Disability Tax Credit and still lives with his/her parents, the definition of “Net Family Income” is based on the disabled person's income and does not include their parents’ income. Read more
All pension jurisdictions continue to make changes to their pension legislation and you should always double check what is and is not allowed within the particular jurisdiction you are dealing with prior to advising a member of his/her options. Read more . . . .