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RRSP is a savings plan that’s registered with the federal government to qualify for the following tax advantages.

Tax-sheltered growth
Earnings on the investments in an RRSP are not taxed when earned. Instead, they are “tax-deferred,” meaning investors don’t have to pay tax until savings are withdrawn from the plan. Investors earn income on moneythey would otherwise have paid out in tax. Over time, this can add up to significant savings.

Tax deduction
RRSP contributions are tax-deductible (within the specified limits).

How much can you contribute?
The CRA tells you your RRSP contributing room in the tax assessment you get after filing your tax return each year. Although you could calculate your contributing room by yourself, it’s easier to rely on the CRA’s calculation. Generally, you’re allowed to contribute up to 18% of your previous year’s earned income, to a maximum set each year by the Income Tax Act and Regulations, plus any unused contributing room carried forward from prior years.


A Registered Education Savings Plan (RESP) is an education savings vehicle that can help Canadians save for post-secondary education. RESPs are registered by the Government of Canada to allow savings for education to grow tax-free until the person named in the RESP enrolls in post-secondary education. The value of RESPs can grow through contributions made by RESP subscribers, amounts of grant and bond provided by the Government of Canada and the Provinces, and growth in the value of the Assets.


A Tax Free Savings Account (TFSA) is a registered investment or savings account that allows for tax free gains. The amount of money that can be contributed to a TFSA is limited each year. A TFSA can be used for any savings goal and withdrawals can be made free of tax.

Non Registered Investments

Non-registered accounts are taxable investment accounts available to Canadian citizens. As the name suggests, it is not registered with the Canadian federal government. Non-registered accounts are flexible, offer tax advantages, and have no contribution limits. There are two primary types of non-registered brokerage accounts: cash accounts and margin accounts. Cash accounts are investment accounts in which income is taxable in the year earned if there are capital gains, dividends, or interest income. A margin account is a type of cash account that allows customers to borrow money to purchase securities. This process is known as purchasing on margin.

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