The annual Tax-Free Savings Account also known as TFSA gets indexed to inflation each year. Then the government rounds that amount to the nearest $500. Although the reported indexation increases for 2020 is 1.9%, the new contribution limit amount for the year is still $6,000. The total contribution room...
Investing
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RRSP Contribution Limits for the 2020 Tax Year
The right to make Registered Retirement Savings Plan (RRSP) contributions in 2020 will depend on your earned income from 2019. That means you can contribute $27,230 and any carry-forward contribution room that you have in 2020, but to do so, you must have at least $151,000 of earned income...
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Canadians can Withdrawal Money from their RRSP at any Time
Any employment income earned and contributed into an RRSP is exempt from tax for the duration that the money is in the RRSP. An individual generally has to pay tax at source whenever they make a withdrawal from the plan. An individual can withdrawal money from their RRSP at...
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Advantages of American Depository Receipts
There are billions of dollars currently invested in American Depository Receipts (ADR) – that statistic alone implies that there are some significant advantages in this particular strategy. Here are six good reasons why it could make sense to follow suit. 1) You can get access to growth markets –...
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Review of American Depositary Receipts and Taxes
Although ADR certificates are issued by US banks, it still represents shares in a foreign company. In essence, you are investing in a non-US asset, and the taxation involved can become a bit complicated. Since the actual shares of the company that you’re buying through an ADR are being...
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What is an American Depository Receipt?
An American Depository Receipt, or ADR, is a negotiable certificate which is issued by a US bank. It represents a specific number of shares or just one share on a foreign stock on the American exchange. Because the underlying security of the certificate is held by a US financial...
