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How much tax are you expected to pay at retirement?
Old 09-25-2007, 09:43 AM   #1
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How much tax are you expected to pay at retirement?

Well friend, I have a question that how much will you be taxed at "retirement"? How much is the withholding tax on RRIF's? Should you still maximize your RRSP contributions in the few years prior to age 65+ to take advantage of the tax-free growth and tax deduction, even though at 65+, you will be in a higher tax bracket due to income increases (RRIF withdrawals+ pension+investment income, etc.)?
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Old 09-25-2007, 12:35 PM   #2
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Quote:
Originally Posted by moonshadow576 View Post
Well friend, I have a question that how much will you be taxed at "retirement"? How much is the withholding tax on RRIF's? Should you still maximize your RRSP contributions in the few years prior to age 65+ to take advantage of the tax-free growth and tax deduction, even though at 65+, you will be in a higher tax bracket due to income increases (RRIF withdrawals+ pension+investment income, etc.)?

You've managed to ask a bunch of fairly complicated questions, the answers which relate to your specific situation.

You would probably be better served by posting questions about RRIFs and Canadian taxes at this

Financial Webring Forum :: Index

forum. It's content is primarily Canadian, unlike this one which is primarily American.

Good luck!
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