RRSP questions from a new immgrant


Jump to Page:
< Previous  [ 1 ]  [ 2 ]    Next >



rona99   
Member since: Jun 07
Posts: 6
Location:

Post ID: #PID Posted on: 21-02-11 20:17:37

Quote:
Originally posted by simsim24

Hi,

I immigrated to canada in late 2009.
Was unemployed in 2009 and first few months in 2010. Got employment in May, 2010. My wife is unemployed and a stay at home mother. We have a 2 year old son.

Question:
1. In whose name should i open an RRSP account -my name or my wife's to get a better tax refund?

2. My yearly salary is $85k, but I only earned $55k in 2010 since i was employed from May onwards. What will be my RRSP contribution limit?

3.Since i earned 0 in 2009, my Notice of assessment states that my RRSP contribution room is 0. Can i still make a contribution to my RRSP for 2010, because in 2010 i was employed though i have not yet received my Notice of assessment?

4.Is there any tax startegy that i can use to minimize my taxes-let s ay by transferring income to my wife? If yes, how is it done?

5. Which financial services company should i chose for my RRSP?


Thank you in advance for your help,

Sim



You can always open up a RRSP account but can only use it for tax reduction in 2012 when you have room from previous year. Make sure you also do a spousal RRSP since your wife is stay at home mom. IM me if you need further answers.

Vikram



Contributors: RESP(2) simsim24(1) dimple2001(1) jigz787(1) Nightmare(1) pratickm(1) rona99(1)



Jump to Page: < Previous  [ 1 ]  [ 2 ]    Next >

Discussions similar to: RRSP questions from a new immgrant

Topic Forum Views Replies
RRSP ( 1 2 )
Accounting and Taxation 1792 7
Sticky: RRSP 101 (All RSP questions answered) ( 1 2 3 ... Last )
Tax benefits for Canadian Residents
Financial Planning 126956 122
Re: Question about RRSP ( 1 2 3 )
Financial Planning 4714 17
Question about Spousal RRSP and HBP
Accounting and Taxation 3529 3
spouser RRSP verses Own RRSP
Financial Planning 1974 3
Details about RRSP & Comparison with 401K plan
Accounting and Taxation 1536 1
Maximise RRSP contribution??? ( 1 2 )
Financial Planning 2391 8
Spousal RRSP Query
Life 2012 6
Spousal RRSP withdrawal under HBP
Accounting and Taxation 1617 2
RRSP Question.. Please Reply
Financial Planning 4475 6
RRSP limit ( 1 2 )
Financial Planning 2015 7
RRSP and RESP -- Can i contribute ?
Financial Planning 1582 2
earning 32K , is it good to open RRSP ( 1 2 )
Financial Planning 3573 12
Question about Tax Return
Accounting and Taxation 1311 2
Should i contribute to my or my wife's RRSP (long term planning)
Accounting and Taxation 1481 4
RRSP contribution
Financial Planning 1344 2
Locked in - Company Match RRSP !
Financial Planning 1545 2
Looking for a Tax Consultant ( 1 2 )
Accounting and Taxation 2389 7
can I have more then one RRSP account?
Accounting and Taxation 2175 2
Spouse RRSP ( 1 2 3 )
Financial Planning 5037 14
RRSP contribution and panelty
Accounting and Taxation 1848 6
RRSP questions from a new immgrant ( 1 2 )
Financial Planning 4475 9
RRSP Question
Financial Planning 1447 2
Question related to RRSP Unused Contribution ( 1 2 )
Financial Planning 2413 7
RRSP withdrawal staying in Canada ( 1 2 )
Financial Planning 5807 7
 


Share:
















Advertise Contact Us Privacy Policy and Terms of Usage FAQ
Canadian Desi
© 2001 Marg eSolutions


Site designed, developed and maintained by Marg eSolutions Inc.