Where does the introduction of TFSA to our savings options leave the RESP? Contributions to both TFSA and RESP are made with after-tax dollars and both offer the benefit of tax-deferred growth. RESPs have the advantage of attracting the CES Grant of at least 20% but the grant and all the growth within the RESP [...]

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Mike from Four Pillars mentioned in a comment that the TFSA offers us a new horse to beat to death because we can now endlessly argue over whether a RRSP is better than a TFSA or does it make more sense to pay down the mortgage instead. In that spirit, let’s first consider the easier [...]

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Budget 2008 does have a sting buried deep in the document and barely mentioned in the mainstream media. In page 290, under the innocuous title of Dividend Tax Credit, the budget states:
The 2007 Economic Statement reduced the general corporate income tax rate to 15 per cent by 2012 and stated that consideration would be given [...]

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The government brochure announcing the introduction of the TFSA calls it “the single most important personal savings vehicle since the introduction of the Registered Retirement Savings Plan (RRSP)”. Unlike the usual hyperbole, the government is probably understating the importance that TFSAs are likely to play in the savings plans of all Canadians.
The TFSA is the [...]

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Finance Minister Jim Flaherty tabled his government’s third budget in Parliament today. The mainstream media has extensive coverage of budget highlights but if you are inclined to read the document yourself (available here), here are my notes of the interesting bits:

Improved management of EI: The government is proposing the creation of a new crown corporation [...]

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