Withdrawal Discussions, Offers & Promotions

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  • DCPP withdrawal rules Canada at age 55

    Hi, I want to withdraw amount from DCPP contribution at age 55 due to some emergency. Can I withdraw at age-55 and what will be the procedure and How much percent can withdraw from my contribution? Please advise. Thanks,

    • shakilhyd
    • Jan 6th, 2021 11:49 pm
    • Forum: Personal Finance

  • TD and minimum RRIF withdrawal

    My mom is complaining that she went online to TD today to do her annual minimum RRIF withdrawal, taking into account the 25% COVID reduction that the CRA is offering, only to find that TD already did it 3 days ago without the 25% reduction. She has always done the ...

    • Scote64
    • Dec 18th, 2020 4:30 pm
    • Forum: Personal Finance

  • Early Withdrawal of RRSP for Non-Resident (Hong Kong)

    Hi there, I have an RRSP account in with Scotia Bank and the money has been sitting there for a few years. Now that I have moved back to Hong Kong and having declared already as a non resident for the Canadian tax, I am thinking of withdrawing all the money from my RRSP account and essentially closi...

    • ballboy168
    • Nov 7th, 2020 12:57 pm
    • Forum: Personal Finance

  • Which RESP discount brokerage has no withdrawal fees?

    Can anyone confirm which discount brokerage has no RESP withdrawal fees?I know that Questrade has a partial withdrawal fees of $50. Anyone has experience with the bank brokerage and if they have any withdrawal fees?

    • chico_001
    • Oct 21st, 2020 11:42 am
    • Forum: Personal Finance

  • Spousal RRSP withdrawal for buying a house - tax consequences ?

    I am planning to buy a house and want to know how i will be affected by withdrawing from an spousal rrsp to pay for a downpayment as first time home buyer. We are both first time home buyers. My wife doesn't work so she has low/zero income. I put in around 11k into my wifes spousal rrsp in July 2019...

    • 416thesix
    • Sep 26th, 2020 12:44 pm
    • Forum: Personal Finance

  • How to increase withdrawal limit of PC Mastercard?

    Hi, I am stuck with this card for a while and they only allow me to withdraw about 450 cad. Is it possible to increase it? Because otherwise I get hit by fees by both parties twice. When you press fast X money from the ATM, is it actually processing using the credit card option? Because when I choos...

    • lachdanan
    • Sep 23rd, 2020 9:00 am
    • Forum: Personal Finance

  • RESP Withdrawal - Keep it or take it out?

    Hi Folks, Looking for an advice on RESP withdrawal. My daughter got accepted in University and its time to take out RESP money. She already got few scholarship and OSAP grant so we do not need RESP fund right away. But, just wondering is it ok ...

    • jaggu2001
    • Sep 15th, 2020 3:15 pm
    • Forum: Personal Finance

  • 401(k) early withdrawal taxes in Canada

    How do I report 401(k) early withdrawal on a Canadian tax return? Can you take FTC for 10% penalty paid?

    • andyms
    • Aug 17th, 2020 6:25 pm
    • Forum: Personal Finance

  • Withdrawal from TDDI TFSA, fee and turnaround time?

    HI guys, wondering anybody knows about the fee structure and turnaround time in case you need to withdraw from your TDDI TFSA account, say transfer to your TD chequing account? Tried to google but have a hard time finding the answer somehow. Thanks a lot.

    • renhui
    • Jul 4th, 2020 1:57 pm
    • Forum: Investing

  • Contribute cash to RRSP to pay withholding tax on in-kind withdrawal

    I’d like to make a $50K in-kind withdrawal from my RRSP to hopefully benefit from the recovery in the stock market, but there is no available cash to pay the withholding tax. I have sufficient RRSP contribution room to contribute $15K cash, ...

    • Jacob1878
    • Mar 25th, 2020 11:09 am
    • Forum: Personal Finance

  • Home Buyers Plan (HBP) withdrawal from Spousal RRSP Question

    ... will be 2021. About Spousal RRSP: 1. if your spouse withdraws money within three years of a contribution from you, you will have to claim that withdrawal as your taxable income, not your spouse’s (This is called three year rule).This way, the tax will be calculated based on your income slab. ...

    • jpatel310
    • Feb 27th, 2020 8:50 pm
    • Forum: Personal Finance

  • RRSP overcontribution & withdrawal

    Let's assume that I have $1000 RRSP overcontribution and I make a $20000 withdrawal, paying 30% withholding tax.Will this withdrawal bring my overcontribution to zero? TIA.

    • andrew4321
    • Jan 8th, 2020 11:40 am
    • Forum: Personal Finance

  • Spousal RRSP withdrawal for HBP

    ... do. He has $35k in RRSP and is wanting to put another $35k in my RRSP through spousal RRSP so he can pay less tax this year. We are planning to do withdrawals from both RRSPs for HBP next year. If I withdraw the $35k in my RRSP after 90 days, would that count towards my HBP RRSP withdrawal or it ...

    • eded123
    • Dec 28th, 2019 5:27 pm
    • Forum: Real Estate

  • Any experience with RESP withdrawal for non-educational reasons

    ... the full 25% for every year it’s been open - so my best guess is for every $2500 the gov will take 20% back? I’m also thinking about splitting the withdrawal in two so that at least half can continue to accrue earnings until the funds are needed for withdrawal, seeing as there are no fund / account ...

    • mrap2609
    • Dec 4th, 2019 10:21 am
    • Forum: Personal Finance

  • HBP withdrawal after closing

    As per CRA, an eligible withdrawal needs to be done no later than 30 days after you acquire the property. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan/withdraw-funds-rrsp-s-under-home-buyers-plan.html ...

    • andrew4321
    • Nov 8th, 2019 2:48 pm
    • Forum: Personal Finance

  • Question about withdrawal from TFSA

    Hi all investment gurus, I am just curious about TFSA withdrawal rule, let's make a simple case, TFSA has been around 10 years with a total contribution room of $63,000 (as of 2019), and let's say I have used up the full contribution room each year, ...

    • jeff_yao
    • Oct 25th, 2019 12:08 am
    • Forum: Investing

  • Rental Property Mortgage Cash Account Withdrawal and Tax Implications

    Hello, I have a rental property of which I've made some extra payments on. With my mortgage, these extra payments go towards a Cash Account feature which serves to pay off the principal (to save on interest), but also gives me the flexibility to withdraw the money if I ever wanted to. It's like a HE...

    • runner978
    • Aug 31st, 2019 8:14 am
    • Forum: Real Estate

  • RESP Withdrawal Strategy

    My son will be going to university soon and I need take out money from RESP account for his education expenses. I have some money in GIC, some in mutual fund and some in money market funds. What strategy I should follow to take out money to have minimum tax payable to my son (I don’t think any tax w...

    • Ultimate12
    • Aug 26th, 2019 6:20 pm
    • Forum: Personal Finance

  • Questrade charges RESP withdrawal fee for each transaction

    My child will go to university this fall. When I made an EAP withdrawal from RESP recently, Questtrade charged me $50 for each transaction due to partial deregistration. I have more than 100K in my RESP account. How could I avoid this fee each time? Is there same fee in other 5 big banks?

    • lhq2100
    • Aug 9th, 2019 2:34 pm
    • Forum: Personal Finance

  • RRSP contribution and withdrawal

    Hi All I have a question. Scenario : I deposit $10,000 to my RRSP account this year (2019) and claim the tax savings while filing my 2019 taxes next year. After that in April 2020 i withdraw those $10,000 and use it for personal purposes and then i deposit those $10,000 back to my RRSP account in Ju...

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