There seems to be lot’s of buzz around the Tax Free Savings Accounts which is the norm when it can involve saving someone taxes. I am meeting with Rick Unrau of Global Real Estate Investments to learn a bit more later this week.
One of the key points I am already aware of are that these savings accounts can be used to invest in almost anything that a standard RRSP can invest in, so people are not limited to just standard Tax Free Savings accounts offered by the banks. There are many more opportunities available that will offer not just the tax free aspect, but consistent yearly returns in the 8% plus range.
If this is the type of information you want to learn about leave me a comment. If there is enough interest I will definitely pass on what I learn to help everyone move forward with their tax savings!
****Lot’s of great feedback, the link the the information is here, Tax Free Savings Accounts **** I hope this helps explain it well enough.
Hi Bill
I’m always interested in learning about opportunities.
Hi Bill & Karen,
How are you both? We would loveto hear more info.
Jason & Vanessa
Hello,
Please, I would love to hear more!
Jennifer
More information is always good, interested to hear more from your meeting.
Hi Bill, I am interested in learning more! I have made use of capital cost allowance in the past which allows you to depreciate the value of your rental property and essentially defer the tax paid on your positive cash flow. Have you used this strategy in the past? You would be way ahead if you did not have to pay tax on cash flow and invested it in a tax deferred savings account.
Vaughn
I should also mention that you do have to pay the tax if you ever sell the property which I also have had to do!
Vaughn
Sounds interesting Bill
JT
Happy New Yr Bill
Sounds like the TFSA may be a great way to maximize $$$ with your
added pearls of wisdom to Follow.
Count me in Please
Deb