Registered Accounts
20 articles in Registered Accounts. Each verified against an official source and linked to a calculator.
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RRSP Rules 2026: Contribution Limit, Deadline, Withdrawals, HBP, and Withholding
The 2026 RRSP dollar limit is $33,810 (up from $32,490 in 2025); the 60th-day contribution deadline for the 2026 tax year is March 1, 2027. The 18%-of-earned-income formula and $2,000 lifetime over-contribution cushion are unchanged. RRSP withdrawals trigger withholding tax (10/20/30% federal). HBP withdrawal limit is $60,000 per person. FHSA annual room $8,000 / lifetime $40,000.
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What Changed in TFSA for 2026
TFSA dollar limit stays at $7,000 for 2026 (third year unchanged) due to rounding rules. Cumulative room reaches $109,000 going into 2026.
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RRSP vs Pension Plan: Trade-offs of Workplace Pension Membership
DB pensions provide guaranteed income with employer contributions and longevity pooling. RRSPs offer control and portability. Most workers benefit from joining a workplace pension when offered.
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TFSA vs RRSP: Which Account to Use
TFSA wins for lower-income earners (~$50K and under) and those facing GIS clawback. RRSP wins for higher earners (35%+ marginal rate now, lower in retirement). Marginal-rate test is the core decision.
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FHSA vs Home Buyers’ Plan (HBP): Which to Use for a First Home
Use FHSA before HBP for first home: tax-deductible contributions + tax-free withdrawals + no repayment. Combined maximum: $100,000 per person ($40K FHSA + $60K HBP) toward down payment.
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Group RRSP vs Individual RRSP: Which to Use
Group RRSP is employer-sponsored with payroll contributions and often employer matching. Both group and individual RRSPs use the same lifetime contribution room. Capture the full employer match before any other RRSP/TFSA contribution.
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RRSP Withholding Tax Rates 2026: CRA Rates, Quebec Rules, and Examples
CRA withholds federal tax on RRSP withdrawals at 10% (up to $5,000), 20% ($5,000.01-$15,000), and 30% (over $15,000) per single transaction. Quebec residents see lower federal portions plus a 14% Quebec provincial withholding. HBP and LLP withdrawals are exempt with Forms T1036 and T1006. Withholding is a prepayment, not the final tax — the full amount is added to taxable income.
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RRSP Loan vs Cash Contribution: When Borrowing Makes Sense
RRSP loan funds an immediate contribution and uses the tax refund to repay. Works only when refund + extra year of growth exceed after-tax loan interest. Loan interest is NOT deductible.
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When Do You Convert an RRSP to a RRIF in Canada?
RRSPs must convert to a RRIF, annuity, or be cashed out by Dec 31 of the year you turn 71. RRIF requires minimum withdrawals starting the next year, calculated as 1/(90-age) up to age 71, then by regulation.
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Spousal RRSP Attribution Rules and the Three-Year Rule
Spousal RRSP lets a higher earner contribute to a spouse's RRSP using the contributor's room. Withdrawals within 3 calendar years of the last spousal contribution are taxed back to the contributor.
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TFSA Successor Holder vs Beneficiary on Death
TFSA can name a successor holder (spouse only — takes over the TFSA tax-free) or beneficiary (anyone — gets the death balance tax-free, post-death growth taxable). Quebec residents must use a will.
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US Persons Holding a TFSA: Tax and Reporting Issues
US persons holding a TFSA face annual US tax on earnings, IRS Form 3520 and 3520-A reporting, and potential PFIC complications. Cross-border practitioners generally advise against TFSAs for US persons.
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TFSA In-Kind Contributions and Tax Consequences
TFSA in-kind contribution is a deemed sale at fair market value: capital gains are taxable but capital losses are denied. Contribution amount equals FMV at transfer.
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Can CRA Tax Your TFSA If You Day Trade?
Active day trading inside a TFSA can be assessed as business income by CRA, eliminating the tax shelter. Buy-and-hold investing is safe; high-frequency trading is risky.
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TFSA Withdrawal and Re-Contribution Rules
TFSA withdrawals are tax-free and can be made anytime. Withdrawn amounts are added back to room on January 1 of the next year. Same-year re-contribution can trigger over-contribution tax.
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Home Buyers’ Plan Withdrawal Limit 2026: $60,000 RRSP HBP Rules and Repayment
The 2026 Home Buyers' Plan (HBP) withdrawal limit is $60,000 per first-time home buyer (up to $120,000 for a qualifying couple). Funds must be in the RRSP at least 90 days before withdrawal. Withdrawal is initiated with Form T1036. Repay over 15 years starting the second year after the withdrawal year. The 2024 federal budget provided a temporary 3-year repayment deferral for HBP withdrawals made between January 1, 2022 and December 31, 2025. HBP can be combined with the FHSA.
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What Counts as Earned Income for RRSP Purposes
Earned income for RRSP includes employment, self-employment, rental from real property, royalties, and certain disability pensions. It excludes investment income, OAS, CPP retirement, EI, and pension income.
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FHSA Contribution Limits 2026: Annual Limit, Lifetime Limit, Carryforward, and Eligibility
The 2026 FHSA annual participation room is $8,000, the lifetime FHSA limit is $40,000, and unused room becomes FHSA carryforward (capped at $8,000 added to the next year). To open an FHSA you must be a Canadian resident, at least 18 (or age of majority), under 71 by year-end, and a first-time home buyer who has not lived in a qualifying home owned by you or your spouse in the current year or the previous 4 calendar years.
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How RRSP Contribution Room Is Calculated (2026)
RRSP room equals 18% of prior-year earned income, capped at $33,810 (2026), minus any pension adjustment, plus unused room carried forward.
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TFSA Contribution Limit and Cumulative Room (2026)
The 2026 TFSA contribution limit is $7,000. Cumulative room since 2009 is $109,000 going into 2026 for someone eligible every year and never contributed.