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RRSP DEDUCTION LIMITS FOR 2014 AND 2015

We determined your limit from information on your 2013 and previous years’ income tax and benefit returns, and from information we keep on record. If any of that information changes, your 2014 RRSP deduction limit may also change. In most cases, we will tell you about any change to your 2014 RRSP deduction limit.

HOW DOES THE RESP GRANT SYSTEM WORK?

How does the RESP grant system work? Let’s say you open an RESP account for your bouncing new baby and contribute $1,000 into the account. Your financial institution will send the account and contribution information to the Canadian government for grant approval. If the grant is approved, the institution receives the grant money and deposits…