Bonus Tips: To maximize the benefit of the RRSP, you can contribute during the periods when you're in a higher tax bracket and make withdrawals when you are in a lower tax bracket. Even if your investment income is zero, you will still benefit from the difference in marginal tax rates. Also, the RRSP offers a range of benefits, including the First Home Buyers Plan (HBP). This program allows you to withdraw up to $35,000 tax-free to purchase a first home. The amount withdrawn under the HBP must be repaid to the RRSP within a 15-year period, effectively allowing individuals to loan money to themselves interest-free to finance a first home purchase. #Canadiantax #tax #taxtok #canada #taxstrategy #taxplanning #taxadvice #cpa #big4 #pwc #deloitte #kpmg #ey #mnp #tfsa #rrsp #fhsa #business #entrepreneur #smallbusiness