Tax-Savings Strategies

We can’t avoid paying our taxes but there are strategies in place to help put more dollars back into our pockets. Vehicles such as a TFSA, RRSP and Permanent Insurance policies allow us to achieve this goal.

TFSA: Tax-Free Savings Account

A TFSA, or tax-free savings account, is an investment account and – as the name suggests – a tax shelter. A TFSA can hold cash, guaranteed investment certificates, mutual funds, index funds, exchange-traded funds or other investment products.

RESP: Registered Education Savings Plan

A Registered Education Savings Plan (RESP) is a special savings account for parents who want to save for their child's education after high school.