Alberta Finance Minister Nater Horner delivered his second consecutive deficit budget on February 26. The deficit is large at $9.4 billion, which the government attributes largely to declining oil revenues. The document is called Fiscal Plan 2026-2029 meaning that this is a three-year fiscal pan, rather than the typical one-year projection.
In deciding which of the two tax preferred investment vehicles should be used for various lifecycle purposes – the TFSA or the RRSP - advisors and their clients should carefully consider all the advantages of investing in and withdrawing from each vehicle.
Recent changes to RRIF withdrawal rules are in the spotlight since the April 21, 2015 federal budget. Will they affect pension income splitting, and if so, how?