RRSP Loans

How to Increase your Savings, and Reduce your Taxes at the Same Time

It’s tax season, and with that comes the RRSP contribution deadline of March 2, 2015. Contributing to your RRSP can be and often is the most efficient way to reduce the amount of tax you pay the government. The best part is it typically increases your tax refund at the end of the year.

So here you are, it’s RRSP time and you don’t have as much as you would like to contribute or you don’t have anything to contribute. This is where the RRSP loan can help improve your retirement savings, and increase your tax savings.

    How do you Apply?

An RRSP loan is a simplified loan process in which the proceeds must be deposited into your RRSP. You can apply for an RRSP loan with one of the Financial Advisors at First Choice Tax Services. This can all be done in under 10 minutes and you will have a qualified Financial Advisor helping you through the entire process.

Why should you take out an RRSP loan with us, instead of the bank? Here are the only two reasons you need.

1. The entire process of doing your taxes, applying for an RRSP loan, and investing your loan is done with a qualified Financial Advisor, instead of a bank teller with little to no experience.

2. We can work out an RRSP loan amount that you can pay off immediately when you get your tax refund back.

For more information on whether or not an RRSP loan is right for you, feel free to contact Greg or Mike at First Choice Tax Services 1 (250) 753-7888