Your Immediate Financial Benefits
Tax Deductions
Every contribution lowers your taxable income, effectively reducing your taxes today.
Sheltered Growth
Your investments grow fully tax-free as long as they remain protected within the plan.
Tax Refund Potential
Reinvest your refunds to maximize the powerful compound effect on your savings.
Understanding the Framework
Limits & Rights
Your annual contribution limit is 18% of your previous year's earned income, up to a set maximum. Any unused contribution room accumulates and can be carried forward indefinitely.
Deadlines & Contributions
To reduce your tax for the current year, you must contribute by the deadline, usually within the first 60 days of the following year. Every dollar deposited helps lower your taxable income.
Withdrawals & the HBP
Withdrawals are taxable, with some exceptions. The Home Buyers' Plan (HBP) allows you to withdraw up to $60,000 tax-free for a first home purchase, provided it is repaid over a 15-year period.
514-213-6288
simon.dagostino@agc.ia.ca
Agence Beaugrand
6505 Route Transcanadienne, bureau 500,
Saint-Laurent (Québec), H4T 1S3
514 353-3230
1 866 353-3230
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The details provided on this website are for informational use only and do not represent professional or personalized financial advice.
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