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Registered Investments

Registered investments are savings plans registered with the Government of Canada. In some cases, the government adds incentives such as tax-deferral or tax-free options for the income or growth you receive from your savings. Registered savings plans can hold various investment solutions like mutual funds and term deposits to help you save.

Registered Retirement Savings Plan (RRSP)

A registered savings account that allows you to defer or reduce income taxes payable. 

  • Investments are tax sheltered
  • Only pay tax when you take out money
  • Option to make part or all on any contribution to a plan in your spouse's name
  • Carry forward unused deduction room

Registered Educations Savings Plan (RESP)

A special savings account registered with the Government of Canada to help you, your family or friends save early for your child’s education after high school. 

  • Get yearly government grants depending on contributions
  • Contributions are not tax deductible
  • Income and grants are tax sheltered until they are withdrawn

Registered Retirement Income Fund (RRIF)

A RRIF is a registered fund that you have to transfer your RRSP savings into before December 31st of the year you turn 71. 

  • For members holding Kawartha RRSP term deposits, the deposits will be converted intact into their RRIF, with the same interest rate and maturity date, or may be consolidated into blended investments for ease of portfolio management.
  • 3 options to withdraw money

Tax-Free Savings Account (TFSA)

A savings vehicle that lets you earn tax-free investment income.

  • Tax-free growth: you don’t pay taxes on interest earned in your TFSA which helps you build your savings faster
  • Tax-free withdrawals
  • You can put back any amounts you withdraw in the year after you withdraw them
  • You can choose from a wide range of investment options

First Home Savings Account (FHSA)

A registered savings account for prospective first-time homebuyers.

  • Tax-deductible contributions (up to $8,000 each year / lifetime limit of $40,000)
  • Tax-sheltered savings (investment income and growth within the account are not taxable)
  • Tax-free withdrawals (on qualifying withdrawals for a first home purchase)

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