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<blockquote data-quote="klein" data-source="post: 668868" data-attributes="member: 23950"><p>In "socialist" Canada, nothing is tax free from a paycheck.</p><p>That includes our form of your 401K.</p><p>We call them RRSP's here (Registered Retirement Savings Plan).</p><p> </p><p>However, that is done outside of work (thru your bank or Mutualfund Company).</p><p>There are no instant tax savings on them.</p><p> </p><p>So, when we do our return. We get about 33% back, of whatever we invested for Retirement.</p><p> </p><p>Therfor, I'm looking at about $2000 this year (normally about 3500), but I couldn't afford putting more into it (without a job). Only done it, while I was working ofcourse.</p><p>Was putting away $175 a week into RRSP, now only $25.</p><p> </p><p>That refund will cover my property taxes for the year.</p><p>(get 1 tax back to pay the other one) sucks.</p></blockquote><p></p>
[QUOTE="klein, post: 668868, member: 23950"] In "socialist" Canada, nothing is tax free from a paycheck. That includes our form of your 401K. We call them RRSP's here (Registered Retirement Savings Plan). However, that is done outside of work (thru your bank or Mutualfund Company). There are no instant tax savings on them. So, when we do our return. We get about 33% back, of whatever we invested for Retirement. Therfor, I'm looking at about $2000 this year (normally about 3500), but I couldn't afford putting more into it (without a job). Only done it, while I was working ofcourse. Was putting away $175 a week into RRSP, now only $25. That refund will cover my property taxes for the year. (get 1 tax back to pay the other one) sucks. [/QUOTE]
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