Registered Retirement Savings Plans (RRSPs)

Are you looking to reduce your tax liability this year?

Are you wondering how to approach Registered Retirement Savings Plans (RRSPs) in time to file your
Every year the CRA allows you to contribute to your RRSP 60 days past the end of the year and still have
it count towards your RRSP contribution for the previous tax year.
This year you have until March 1 st , 2021.
Wealth Innovations offers holistic financial advice with investment strategies tailored to your unique life
and business.
We have coached multiple clients to use an RRSP contribution to pay significantly less income tax or
even receive a refund. Don’t have the cash flow for a large payment? We walk you through accessing an
RRSP loan at low interest rates to make that contribution.
This is even more beneficial for those in a higher tax bracket. The higher your tax bracket, the more a
deduction counts. An RRSP contribution reduces your taxable income, and you’ll save even more if your
contribution brings you down to a lower tax bracket.
Don’t be left guessing! Meet with one of our consultants, and we can determine how much you need to
contribute to your RRSP this year to pay the taxes you want to pay.
As a bonus, if you work with Wealth Innovations to access an RRSP loan and invest those funds, we will
include the cost of your personal tax return for 2020.