After saving for years in your RRSP, you might lose half of it to the taxman when you start to withdraw. In this Globe and Mail special report, I was interviewed by Marjo Johne and we discuss better tax strategies for RRSP withdrawal.
By: Marjo Johne, Special to the Globe and Mail- March 2, 2007
You’ve spent years contributing to an RRSP and now you’re retired and ready to start dipping into your nest egg. Unfortunately, so is the taxman, who can take as much as half of the RRSP money you withdraw, depending on your total income each year and where you live.
While you can’t avoid paying taxes on pension income, financial experts say there are ways to minimize the portion Canada Revenue Agency takes from your RRSP money.READ MORE AT SOURCE…