We have been asked quite a few questions about Tax-Free Savings Account (TFSA) at the office lately and I thought it would be a good topic for this month’s column.
A TFSA is a registered savings plan, which allows any Canadian resident of 18 years of age or older to earn investment income that is tax-free. The contribution limit is of $5,000 per year and you can withdraw your funds at any time. To take advantage of the flexibility of withdrawals, you should consider investing your savings in a combination of investment such as high interest savings account, GICs and mutual funds.
This past summer the Government of BC announced its intention to implement a Harmonized Sales Tax (HST), which effectively combines the two sales taxes we pay now (GST & PST), into one tax called the HST. We can expect that the HST will be in effect as of July 1, 2010.
March 1, 2010 …for some it will be a great day on the slopes, a birthday, an anniversary, another day at work and for others, the disappearance of the little black cloud that has been hanging over their heads because they will have made the final contribution to their RRSPs for the 2009 tax year.
Of course most of you already know about this deadline but I thought I would take the opportunity to bring a few key terms to your attention since these RRSPs affect us differently during the course of our lives.
Beavertail Lodge B&B 4507 Timberline Crescent, 250-423-2673
Beavertail Lodge has re-opened as a traditional bed and breakfast offering visitors very comfortable accommodation and truly delicious, hot breakfasts. Hosts, Wells and Karen Marshall hail from the Northwest Territories and have brought true northern hospitality to the B&B: a friendly, relaxed atmosphere enhanced by homemade baking.
Fernie’s Girl Friday, 250-423-3575
Efficient Administrative Solutions. A familiar face from the construction industry, Julie-Ann Harbidge owner/operator of Fernie's Girl Friday strives to keep your mind at ease and keeps you up to date with your business or home. Creating time for you to get out and play.
I started eating raw food seven years ago, when my Mom was first diagnosed with cancer. I’d heard of the healing miracles of eating raw, and I eventually convinced Mom to try a juice cleanse with me.
I recently read a feature in the Fernie Fix which made me think about the difficulty some people face in pursuing their passions when your body is no longer in optimal form. About three years ago that was where I was.