2d • Retirement
IN KIND Transfers
Remember you can do even when working and I hate word melt down and use up. Why stupid thinking from our 4% FA world. Here what I do usually in beginning of the year or when stocks are down. Why down you lose or gain room based on that days priced locked in. So if you paid 70c for a stock and it drops to 20c or ETF you paid $8 and it drops to $6 you get a bonus...You might have to think for a minute.
When Government sees this situation they know what you are doing. There is NO straight from RRSP or RRIF to TFSA. Why the third account you ask? or as they call it a pass threw account simply for taxes.
Simple they are dereg your RRSP room and paying taxes in non registered account then they are subtracting the room of TFSA remember 109,000 since 2009 but also plus any withdrawals following year. You have to know as they are behind in TFSA. I don't usually gross up now as I do subtraction but once you hit each threshold they over rule you so you can put 10% but if its 20% time they take withholding taxes. You can transfer from RRSP to RRIF without penalty or charges, Remember RRIF saves you fees and not a loop hole you don't have to move all your RRSP into RRIF until the end of your 71st birthday. Mine in November so I be doing earlier. Here helpful chart if you want to Gross Up.
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IN KIND Transfers
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