Investing

The low savings rate among Quebec workers motivated the provincial government to introduce legislation requiring all businesses with more than five employees to set up a retirement savings plan.

While money contributed to an RRSP is taxable when withdrawn, contributions to a TFSA are made with after-tax dollars and are not subject to any further taxation. As a result, every dollar in a TFSA will be earning tax-free interest.

One of Canada’s top 50 wealthiest people, John McCall MacBain, provides insight into some of the basic financial strategies of a billionaire.

Publicity

On June 22, National Bank will offer clients access to the world of responsible investment with the launch of its new guaranteed investment certificate (GIC), the Socially Responsible GIC – Canadian Market. This tangibly demonstrates the Bank’s commitment to social responsibility and its desire to allow all investors to act on their environmental, social and governance (ESG) concerns. This GIC is a brand new way to make equitable investments, without compromising on returns!

For those perplexed by the question of whether it is better for you to contribute to an RRSP or a TFSA, the best answer is to contribute to both. But in a lower after-tax dollars world, there are advantages and disadvantages to be had with both, depending entirely on your own personal financial situation.