Chapter 6: Tax and Retirement Planning

In this section

• How Does the Canadian Taxation System Work? A Comprehensive Overview of Canada’s Progressive Tax System
  Explore how Canada’s progressive tax structure applies to different income sources, deductions, and credits, and discover strategies to align tax planning with retirement goals.
• Understanding Key Personal Tax Concepts
  Discover essential personal tax principles in Canada, including gross income, deductions, non-refundable and refundable credits, and how mutual fund distributions impact your taxable income.
• What Are the Main Pension Plans in Canada?
  Discover the fundamental Canadian Pension Plans—CPP/QPP, OAS, GIS, and employer-sponsored schemes—and learn how they shape retirement income strategies for mutual fund sales representatives and their clients.
• What Are Tax Deferral Plans?
  Understand the ins and outs of Canadian tax-deferral vehicles such as RRSPs and RRIFs, along with the tax-free advantages of TFSAs, and discover how they can help you optimize retirement savings and manage long-term wealth.
• Additional Retirement Income Strategies: Maximizing Pension and Personal Savings for a Secure Future
  Explore advanced strategies that combine government pensions, spousal RRSPs, and phased retirement approaches, ensuring optimal tax efficiency and comprehensive retirement income solutions for Canadians.