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2018 RRSP Contribution Deadline is March 1!

The 2018 RRSP contribution deadline is rapidly approaching and the last day to make contributions is March 1, 2019. Why should you contribute to an RRSP? Contributing to an RRSP before March 1 lowers your 2018 taxable income and result in less income tax owing when you file your 2018 tax return. If you normally get a refund, a RRSP contribution can increase the size of your refund and if you generally owe tax, a contribution can help lower the amount owing.


CLICK HERE: 2018 RRSP Savings Calculator

Click above for a handy calculator to give you an estimate of tax you can save by making an RRSP contribution. If you’re not sure if you should contribute to an RRSP or how much to contribute, give us a call at 604-892-5131 to speak with one of our advisors.


2018 & 2019 Tax Numbers That Matter to You


If you’re in the boomer generation, there’s some essential numbers to keep in mind as we prepare for the end of year and coming tax season.


READ MORE: Advisor’s Edge Essential tax numbers: updated for 2019


  • Maximum TFSA contribution: in 2019, the TFSA contribution limit will increase to $6,000, up from $5,500 for 2018.


  • Basic personal amount: for 2018, the basic personal amount is $11,809 and will increase to $12,069. You can claim this amount on your tax return as a non-refundable tax credit.


  • Medical expenses threshold: you can claim medical expenses as a non-refundable tax credit on your tax return, but the you can only claim the amount over and above 3% of your income or $2,302, whichever is less. In 2019, this amount will increase to 3% or $2,352, whichever is less.


  • Donation super credit: the first-time donor tax super credit program is now expired, so you can no longer claim it. Don’t worry though, donations will still be eligible for non-refundable tax credits!


  • Maximum RRSP contributions: if you’re a super-saver and always max your RRSP contributions, you’ll want to know that the maximum limit for 2018 is $26,230, but this number will increase to $26,500 in 2019.


If you have any questions about these numbers and how they’ll affect you this year, please reach out to us by phone at 604-892-5131 or use the contact form below.

What is the value in a CERTIFIED FINANCIAL PLANNER® professional?


Before discussing the value of a CERTIFIED FINANCIAL PLANNER® professional, it’s important to understand what the designation means. What’s the difference between a CERTIFIED FINANCIAL PLANNER® professional and an investment advisor?



According to the following link: Government of Canada: Choosing a Financial Advisor, anyone outside Quebec can use the terms “financial planner” or “financial advisor”. Their stance is that the difference between advisors depends on their education and certifications – and furthermore, the GoC says that financial planning certifications help you to find an advisor with the skills you require.

The article goes on to say that a financial advisor is someone who helps you manage your money, like an Investment Advisor or insurance agent, and that a financial planner is a type of advisor that assists you in developing a long-term financial plan that helps you reach financial goals. Examples from the article that a financial planner can help with:

  • Budgeting
  • Saving money on taxes
  • Planning for retirement
  • Estate planning
Financial Consumer Agency, Government of Canada “Choosing a Financial Advisor” August 2, 2018


David Sweeney and Janet Bride fill the roles of both Investment Advisor/Associate Investment Advisor and financial planners; their role is to help you manage your money and create a plan to reach your long-term goals. But what is the value of a CERTIFIED FINANCIAL PLANNER®professional?


Data collected from the FPSC “Value of Financial Planning Study”:

  1. “People with financial plans report feeling more on track with their financial affairs.
  2. Those who have financial plans and think retirement is an important goal feel more confident in their plans to retire.
  3. People with financial plans feel they have improved their ability to save in the last five years.
  4. Those who have financial plans are more confident that they can deal with financial emergencies, tough economic times, and ensuring loved ones are financially looked after.
  5. People who engage in comprehensive financial planning report higher levels of emotional, financial and overall contentment over those who have engaged in limited planning.”


READ MORE: Financial Planning Standards Council, “The Value of Financial Planning Study”