Registered Accounts
20 articles in Registered Accounts. Each verified against an official source and linked to a calculator.
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What Changed in RRSP for 2026
2026 RRSP dollar limit rose from $32,490 to $33,810 (4.1%). Formula and other rules unchanged. HBP $60,000, FHSA $8,000/$40,000 unchanged.
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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 and How They Apply
RRSP withholding is 10% up to $5,000, 20% on $5,001-$15,000, and 30% above $15,000 (per single withdrawal). Quebec residents see different rates. Withholding is a prepayment, not final tax.
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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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RRSP to RRIF Conversion: Rules, Timing, and Minimum Withdrawals
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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TFSA Day Trading and Business Income Risk
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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RRSP Home Buyers’ Plan: Withdrawal Limit and Repayment (2026)
RRSP Home Buyers' Plan allows up to $60,000 tax-free withdrawal per person ($120,000 per couple). Repay over 15 years starting year 2 after withdrawal.
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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 and Withdrawal Rules (2026)
FHSA annual limit is $8,000 with $40,000 lifetime maximum. Unused room carries forward up to $8,000. Qualifying withdrawals for a first home are tax-free.
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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.