Elderly & Tax Planning
Reducing your net income when you turn 65 you are eligible to receive Old Age Security (OAS) based on your income. Thus, it might be best to minimize your net income for tax purposes.
If your spouse/common-law partner is in a lower tax bracket compared to you, you should make RRSP contributions to a spousal RRSP to pay less tax as a couple.
Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.