Don't Lose 50% Of Your RIF / RSP

Any funds left in RIF / RSP are taxed at the highest personal marginal tax rate. This is on top of any other income received during the year of death when the account holder passes after their spouse or if they are single. For most provinces, the highest marginal tax rate is over 50%, this rate is applicable to income over the low $200,000+ (depending of the province).
Province Highest Marginal Tax Rate:
Alberta 48.00%
British Columbia 53.50%
Manitoba 50.40%
New Brunswick 52.50%
Newfoundland & Labrador 54.80%
Nova Scotia 54.00%
Ontario 53.50%
Prince Edward Island 51.40%
Quebec 53.30%
Saskatchewan 47.50%
Yukon 48.00%
If you have any further questions about this video or any financial planning questions, I recommend finding a certified financial planner in your area or booking a discovery call with us to get your plan on track.  You can email  [e-mail]  or call [phone] (Vancouver, BC) and we will schedule a discovery call / meeting with you.