RRSP and TFSA reminder
The deadline to contribute to your RRSP for the 2014 tax year is Monday, March 2, 2015. The maximum contribution amount for 2014 is $24,270, or 18% of earned income in 2013, whichever is the lesser amount. Your Notice of Assessment from CRA will indicate if you have any additional contribution room.
The maximum contribution amount for 2015 is $24,930, or 18% of earned income in 2014, whichever is the lesser amount.
In 2015, the annual amount that can be contributed to a Tax- Free Savings Account (TFSA) is once again $5,500. TFSAs came into existence in 2009, and to date you could have contributed a total of $36,500. Any unused contribution room carries forward. If you are unsure how much you have contributed to date, please contact the Tax Information Phone Service (TIPS) at 1.800.267.6999.
Cheques should be made payable to “Richardson GMP” and our office address is as follows:
Richardson GMP Limited
550 Burrard Street, Suite 500
Vancouver, BC V6C 2B5
Attention: Jefferson Steele
Please contact one of the team if you would like to process a contribution through your online banking or a contribution “in kind” (using securities held in your Richardson GMP non-registered account). Thank you.
International Money Transfers
As my children both went to University in the United States, I found myself needing to buy US dollars and transfer them to my sons’ bank accounts on several occasions (you may find this humorous…and you may be able to relate)! To do this quickly, inexpensively, and to get great rates on foreign exchange (FX), I used this page from CanadianForex.
Now you can access this fantastic service through Richardson GMP. Our clients get access to exclusive discounts and preferred service on foreign exchange transactions. We have partnered with CanadianForex to help our clients transfer money overseas easily, safely and efficiently. This service is perfect for snowbirds, clients with relatives overseas, or children at school in other countries.
CanadianForex is part of the OzForex Group. The Group became one of the world’s largest online foreign exchange companies by offering competitive exchange rates, award-winning technology and exceptional service. Whether you are emigrating, buying a holiday home or purchasing goods from overseas, enjoy significant savings on your international money transfers by using CanadianForex.
To obtain more information on how to get started with this service please contact us today at 604.640.0555.
Educational tidbit: What to do with a dollar?
I hope this is a problem that we all have from time to time. You earn some money, pay off your bills and have to decide what to do with the excess cash.
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Book review: History of the World in 100 Objects by Neil MacGregor
Neil MacGregor is the Director of the British Museum. In 2010, the Museum and BBC created a radio series- one hundred 15 minute programs, each describing an object in the Museum and its impact on human history. The book is a written summary of the one hundred programs
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