Can you reduce the amount of tax withheld on RRSP withdrawals?

Q. As a recent retiree, I am receiving CPP and OAS, and have a small company pension. As a resident of B.C., I am subject to tax of 5.06% for the first $40,707 of income. My projected taxable income for the 2019 tax year will be less than that—$30,500, including the RRSP withdrawal mentioned below. After…

Compare the Best Chequing Accounts in Canada 2020

Table of contents Best chequing accounts in Canada for 2020 Best no-fee chequing account in Canada Best chequing account with no monthly fee Best rewards chequing account Best student chequing account Best hybrid chequing account What, exactly, is a chequing account? What types of chequing accounts exist? How to choose the right chequing account The…

Credit during COVID-19: accessing the best credit in Canada right now

Remember life before COVID-19? Like many Canadians, Anna and her husband David have been carrying a little more debt than they’re comfortable with. While their main financial responsibility is a mortgage on their Hamilton-area home, the couple also carry a balance on several credit cards and feel weighed down by what they owe. In recent…

April NEXTBASE COMPETITION: WIN A 222 DASH CAM

Reading Time: 2 mins Enter our monthly Dash Cam competition for a chance to win a Nextbase 222 Dash Cam! THE PRIZE The 222 records in full 1080p HD, offering outstanding image quality at a very affordable price. What’s more, it boasts a variety of features, like a 140 degree wide angle lens, and intelligent parking…

Win PuroBasic Volume Limiting Wired Headphones for Children

Reading Time: 2 mins Keep your kids entertained and healthy with these headphones from Puro. The Prize Available from Amazon for £14.99 in Blue, Green, Red and Pink Ideal to keep the kids busy whilst at home, PuroBasic are volume limited to 85dB to protect children’s hearing. Over time listening to music too loud can…

WIN AN EASTER HUNTING KIT WITH HARIBO

Reading Time: 2 mins Haribo will liven up easter for you in your home with this great prize. The Prize Helping us all hop into the Easter spirit, HARIBO is offering 2 lucky fans the chance to win an eggstra special surprise – a kit filled with Easter hunting essentials, including a cracking selection of…

Win a musclefood hamper worth £69

Reading Time: 2 mins musclefood.com is giving you the opportunity to win a Super Lean Hamper worth £69. The Prize The mouth-watering Super Lean Hamper contains everything you need to cook up a range of healthy meals the whole family can enjoy. Contents include: Premium Chicken Breasts, Heritage Range Rump Steaks, Heritage Range Sirloin Steaks, Extra…

Where to find and apply for COVID-19 financial relief

The COVID-19 outbreak has dealt a shock to our economy, shuttering entire industries and leaving many more businesses in limbo, forcing layoffs and loss of income on many people. Fortunately, the Canadian government and several other institutions are offering financial relief for Canadians during the COVID-19 pandemic. If you have lost your job, have decreased…

Free Radios for Over 70s

Reading Time: < 1 min With coronavirus dominating almost every aspect of our lives right now, lots of initiatives are here to help. Consequently, you can nominate a vulnerable person over 70 to get a radio for free. The Scheme We spotted this one thanks to Wavelength. They are a charity who give media technology to…

Smokers: stop smoking and save £3,000 a year!

Reading Time: 6 mins If you’re looking to tighten the purse strings, then why don’t you pack in the cigarettes.. One study found that 60% of smokers find it hard to last a whole day without smoking. Here at Money Magpie, we know how hard it is to quit. But with our handy article, we…

Cheap food for students

Reading Time: 5 mins Eating cheaply on a student budget is important. Particularly when your loan looks like it’s evaporating at a frightening pace. Food is essential, but it needn’t swallow up your budget. By shopping around and finding deals, you can save your cash and still eat well. Follow these tips to shop smart…