Posts by Jason Heath

The article “Should you max out your RRSP before converting it to a RRIF?” was originally published in MoneySense on April 29, 2024. Photo by designer491 from Getty Images. Here’s what to consider before converting an RRSP to a RRIF. Ask MoneySense My husband and I retired last September. We have moved into a condo…

The article “Should I delay my CPP if I’m not contributing to it?” was originally published in MoneySense on April 22, 2024. Photo by TonyIaniro from Getty Images. You can still benefit from deferring Canada Pension Plan payments with less than maximum contributions.   Ask MoneySense Do all the advice articles about waiting to take…

The article “Are home renovations tax deductible in Canada?” was originally published in MoneySense on September 12, 2023, REPOSTED April 12, 2024. Photo by nortonrsx from Getty Images. Doing home renovations? Find out if there are any tax incentives that Canadians are able to claim. “We are upgrading our electrical and removing an oil furnace…

The article “How to change a past tax return” was originally published in MoneySense on April 8, 2024. Photo by Mohamad Faizal Bin Ramli from Getty Images. You can amend previous tax returns to include new information, such as investment management fees for a non-registered account. Here’s how.   Ask MoneySense I have non-registered investment…

The article “Should you buy life insurance to pay for tax owed upon death?” was originally published in MoneySense on April 1, 2024. Photo by charliepix from charliepix. When you die, capital gains tax might apply to some of your assets. Can life insurance help shelter your beneficiaries from taxes owed?   Ask MoneySense I’m…

The article “Should you claim your common-law partner on your taxes?” was originally published in MoneySense on March 25, 2024. Photo by by Mikhail Nilov from Pexels. Changing your status to common-law has an impact on your tax return and government benefits. Here’s how to know when you should take that step.   Ask MoneySense…

The article “Planning for retirement with little or no savings to draw on” was originally published in MoneySense on October 26, 2022, reposted March 20, 2024. Photo by by RomoloTavani from Getty Images. Financial planning advice is often catered to wealthier Canadians. What can retirement look like for those without healthy RRSPs or other savings?…

The article “RRIF and LIF withdrawal rates: Everything you need to know” was originally published in MoneySense on March 6, 2024. Photo by by fizkes from Getty Images. Most registered retirement savings plans are eventually converted to registered retirement income funds. Here’s what to know about RRIF withdrawals. At some point, a registered retirement savings plan…

The article “How to qualify for EI benefits in retirement in Canada” was originally published in MoneySense on February 19, 2024. Photo by designer491 from Getty Images Just because you paid loads into a program doesn’t mean you’ll get EI benefits when you retire Ask MoneySense I’m a 75-year-old male, working part-time and contributing to EI…