Tax Free

Registered Education Savings Plan

1. Government grants 2. RESP savings grow tax free 3. EAPs are taxable in the hands of the student 4. A variety of investment options 5. Friends and family can contribute 6. RESP accounts can stay open for 36 years

Tax Free saving account

1. You're already contributing the full amount to your RRSP each year 2. You expect your income tax rate to be higher when you take money out of the TFSA 3. You need a flexible savings plan 4. You want to reduce taxes on your investments

1. Contributions are tax deductible 2. Savings grow tax free

3. You can convert your RRSP to get regular payments when you retire 4. A spousal RRSP can reduce your combined tax burden 5. You can borrow from your RRSP to buy your first home or pay for your education

FACTORS AFFECTING THE AGGREGATE ECONOMY

Exchange Rates Political Stability Inflation Unemployment Government Policies

Types

Individual Plan, Family Plan and Group Plan

Registered Retirement Saving Plan types

Individual RRSP, Spousal RRSP, Group RRSP

Difference with RRSP

R you need income to contribute also age limit. T you can withdraw without being taxed

Expansion/Recovery Peak Recession Trough

Stock markets lead the economy