Where do you put your tax return? Do you put it to work for you? If so how? #canada #cra #tax #tfsa #rrsp #spend #savings #retirement
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127 Comments
Catherine @ffcatherine · 6mo
Once I learned more about how taxes work here in Canada .. you overpay towards your taxes & any return is the part overpaid “your money back to you without interest” So my goal now is to not get any return (therefore not give CRA an interest free loan) …
Lindsay Ross@laross19 · 6mo
I use it to pay my property tax plus fund a scholarship for my late brother
Joel Kenworthy@hindsightcapital · 6mo
Contribute throughout the year to my RRSP to lower my taxable earnings, then always put my return into my TFSA to grow it tax free. Double win!
Matt H@audi_specter · 6mo
Wife and I agreed to use both tax return money for vacation for the family the following year. Money sits in a high interest account for the year and then eventually is used to pay for annual family trip
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