Hi,
In looking at increasing my available capital to invest into real estate and reduce taxes (actually defer paying them) I am looking at doing at the source using CRA form T1213 - Request to Reduce Taxes Deductions at Source Form. My plan is to have all of my taxes (max 18%) put into the RRSP account. Previously I have used after tax dollars to invest into the RRSP but am finding it difficult to contribute more. My goal is to accumulate enough funds in the RRSP, then transfer them to a self-directed account once a sufficient enough capital is accumulated and invest into second mortgages. Does anyone know of any potholes I need to avoid, things I need to be aware of in what I have explained above? Feel free to shoot holes in the idea.
Thank you
In looking at increasing my available capital to invest into real estate and reduce taxes (actually defer paying them) I am looking at doing at the source using CRA form T1213 - Request to Reduce Taxes Deductions at Source Form. My plan is to have all of my taxes (max 18%) put into the RRSP account. Previously I have used after tax dollars to invest into the RRSP but am finding it difficult to contribute more. My goal is to accumulate enough funds in the RRSP, then transfer them to a self-directed account once a sufficient enough capital is accumulated and invest into second mortgages. Does anyone know of any potholes I need to avoid, things I need to be aware of in what I have explained above? Feel free to shoot holes in the idea.
Thank you