few corrections and clarifications 1. the money you get back after filing taxes is a return not a refund. it means you overpaid and they are returning the difference 2. most people especially newcomers have very simple tax files and easy to do yourself rather than pay an accountant. save money learn this usefull skill. lots of free software to use . takes me max 15 min every year to file my taxes and mine are not just t4s. 3. fhsa has lots of rules and regulations so make sure you are aware of them before opening it. most people are not finding it very useful. 4. general rule to go by to reduce your tax burden is low income = invest in tfsa and high income= invest in rsps. ideally at some point in life you will have both accounts and both should be maxed out. remember you can use your rsp for a down payment on a home making the fhsa even less useful. ETA the rsp deadline for 2024 is march 1 2025 NOT the 3rd. The 'cycle' is still just one year (all of 2024) but they always allow a few months into new year to make contributions for the previous years as taxes are filed in the new year and some people add specific amounts to rsp that wipe out amount owing
Hi, I am confused because should we have to open FHSA saving account or investing account/whatever account?..I am asking this because I using wealth simple.
Also, you missed the point that you can withdraw money from RRSP at anytime if your RRSP is not locked-in but you will be paying income tax on that amount and the tax will be withheld.
Question: I am on open work permit, and doubt if I will get a PR soon. So, should I still go ahead and open FHSA, as I thought eventually one still need to pay taxes when they withdraw from FHSA, please confirm
i am seeing you since your start on you tube ! i always wanted to come to Canada after seeing your videos today i am typing this message sitting in a condo in Toronto as PR thanks for being a positive soul and inspiring others
I have a quick question , so my work permit is about to get expire and i have already invested into TFSA and RRSP. Along with work permit , SIN also gets expires , i didnt still get PR . what should i do @Gursahib Singh - Canada ? Can i still invest into TFSA and RRSP or I should withdraw money ? Please advice.
FHSA account intent is to save and buy your first house to get no taxes while making down payment. Also, if you have the house already you are not eligible as far as I know. So I would suggest some research on how it applies to each case. TFSA is safest option and online on your CRA account it will show your contribution room which does take time to reset or update.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio..
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Robert! Imagine i invested $50,000 and received $190,500 after 14 days
Hi, I am confused because should we have to open FHSA saving account or investing account/whatever account?..I am asking this because I using wealth simple.
Btw brother, why haven't u made any video on LMIA points removal and other recent announcements by IRCC such as stopping of flag polling, asylum reforms....🤷🤷🤷
International students may prefer completing a bachelor’s degree in their home country and pursuing a two-year master degree in Canada to secure more Express Entry points. This trend discourages international students from opting for Canada’s four-year bachelor’s programs, which are more expensive and offer fewer points. To address this, allocating additional Express Entry points to international students completing a four-year bachelor’s degree in Canada could make these programs more attractive, balancing the cost and points advantage of two-year postgraduate degrees.
I have 5000 from my gic which i paid from india in another gic cashable account. Its i guess under tfsa. I have to pay my fees next year so what you suggest should i cash it before 32st dec?
I have a quick question , so my work permit is about to get expire and i have already invested into TFSA and RRSP. Along with work permit , SIN also gets expires , i didnt still get PR . what should i do @Gursahib Singh - Canada ? Can i still invest into TFSA and RRSP or I should withdraw money ?
few corrections and clarifications 1. the money you get back after filing taxes is a return not a refund. it means you overpaid and they are returning the difference 2. most people especially newcomers have very simple tax files and easy to do yourself rather than pay an accountant. save money learn this usefull skill. lots of free software to use . takes me max 15 min every year to file my taxes and mine are not just t4s. 3. fhsa has lots of rules and regulations so make sure you are aware of them before opening it. most people are not finding it very useful. 4. general rule to go by to reduce your tax burden is low income = invest in tfsa and high income= invest in rsps. ideally at some point in life you will have both accounts and both should be maxed out. remember you can use your rsp for a down payment on a home making the fhsa even less useful. ETA the rsp deadline for 2024 is march 1 2025 NOT the 3rd. The 'cycle' is still just one year (all of 2024) but they always allow a few months into new year to make contributions for the previous years as taxes are filed in the new year and some people add specific amounts to rsp that wipe out amount owing
Hi, I am confused because should we have to open FHSA saving account or investing account/whatever account?..I am asking this because I using wealth simple.
Also, you missed the point that you can withdraw money from RRSP at anytime if your RRSP is not locked-in but you will be paying income tax on that amount and the tax will be withheld.
Question: I am on open work permit, and doubt if I will get a PR soon. So, should I still go ahead and open FHSA, as I thought eventually one still need to pay taxes when they withdraw from FHSA, please confirm
i am seeing you since your start on you tube ! i always wanted to come to Canada after seeing your videos
today i am typing this message sitting in a condo in Toronto as PR
thanks for being a positive soul and inspiring others
Brother did you come in canada as a PR
@@pawelrai82 yes
@@MegaSahil05 how much time of experience in india bro ?
Keep up the great work Gursahib Ji ❤
Thank you Gursahib ji. 🙏🏻😍
I have a quick question , so my work permit is about to get expire and i have already invested into TFSA and RRSP. Along with work permit , SIN also gets expires , i didnt still get PR . what should i do @Gursahib Singh - Canada ? Can i still invest into TFSA and RRSP or I should withdraw money ? Please advice.
Vv nice video.keeps up
FHSA account intent is to save and buy your first house to get no taxes while making down payment. Also, if you have the house already you are not eligible as far as I know. So I would suggest some research on how it applies to each case. TFSA is safest option and online on your CRA account it will show your contribution room which does take time to reset or update.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio..
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Robert! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals...
Prava promotion to bina v bn lai video sari video ch toranto tax boutique toranto tax boutique
good info brother 👏👏👏
Great video
Very informative vlog beta ji thnx🙏🙏god bless you both bachoo ❤❤
Hi, I am confused because should we have to open FHSA saving account or investing account/whatever account?..I am asking this because I using wealth simple.
Btw brother, why haven't u made any video on LMIA points removal and other recent announcements by IRCC such as stopping of flag polling, asylum reforms....🤷🤷🤷
International students may prefer completing a bachelor’s degree in their home country and pursuing a two-year master degree in Canada to secure more Express Entry points. This trend discourages international students from opting for Canada’s four-year bachelor’s programs, which are more expensive and offer fewer points. To address this, allocating additional Express Entry points to international students completing a four-year bachelor’s degree in Canada could make these programs more attractive, balancing the cost and points advantage of two-year postgraduate degrees.
I have 5000 from my gic which i paid from india in another gic cashable account. Its i guess under tfsa.
I have to pay my fees next year so what you suggest should i cash it before 32st dec?
Be very careful about FHSA. It’s only available for home buying. If you don’t intend to buy then full taxes on withdrawals.
When your platform is coming. I am waiting
FHSA account also for new international students? And what's the minimum limit
students or work permit holders are eligible to open an fhsa account
What about for students ?
Can anyone help me. I invested in resp in wealthsimple. Will i get annual 500 dollar for my daughter before the end of this year.
Bro for student?
Q1. Hello sir, If i am a student do i need to open FHSA account ?
Q2. If I don't add any money to FHSA until i come on work permit is that okay?
no its for home buying. you only open it if you want to purachse a home and if you ever withdraw from it you will be taxed heavily
No issues
Sir after icm finish after to how can renewal study visa for bachelor 3year
Pls reply me i want to know about total cost for masters in Finance from pakistan i want admission for sepetember intake
Thanks 😮😢😅😊😂❤❤❤🎉
Bhaji hun bina ser pair dia video pande tuc…
So many peoples r better then Toronto tax trust me, they will charges high n provide referrals as well
Before I send you mes you didn't reply me.
Hello paji can i open tfsa i have just landed. ??
Yes, depending on residency status. Message me for more details if you're in Ontario and interested. I'm a licensed financial advisor with Desjardins.
I ll give better then Toronto tax as per my over 20 years experience feel free to ask me and highly recommend then others thx
I have a quick question , so my work permit is about to get expire and i have already invested into TFSA and RRSP. Along with work permit , SIN also gets expires , i didnt still get PR . what should i do @Gursahib Singh - Canada ? Can i still invest into TFSA and RRSP or I should withdraw money ?
Hello its my first comment i want your help you can reference me for part time job in canada .🙏
Impossible.