Despite having a fairly simple set of rules, we’ve all heard a million things about the RRSP (disinformation is on an uptick lately in all categories, you may have noticed). But how EXACTLY does this TAX REFUND we always hear about work? What amount do we get back? And how do we know what tax bracket/percentage we’ll receive? It’s actually all pretty straightforward, so we had the K4 elves cobble together some visual aids to demonstrate: A) How the refund is calculated B) How inflation over time could impact a static payment amount C) That we care (Audience awwwwwwws, we hug). RRSPs can be comprised of many different investment options to suit your style, and when used strategically are a dynamic, powerful savings tool for the right person.
