Photo created by pressfoto – www.freepik.com Q. I am considering deregistering my Registered Retirement Income Fund (RRIF) of $89,000 and taking the tax hit for the 2019 tax year. Doing this would leave me eligible to maximize the Guaranteed Income Supplement (GIS) as well as the Shelter Aid for Elderly Renters (SAFER) in the future.
Right now, I am 73 years old, and my income includes Old Age Security (OAS) and Canada Pension Plan (CPP) at a combined total of $622 per month; a small company pension of $228 per month; and a RRIF payment of $500 per month; for […]
Full Post at www.moneysense.ca