Assante Hydrostone’s blog and news updates.
How to manage RRIF withdrawals tax-efficiently to avoid ‘a hefty penalty’
Written by Alison MacAlpine, as published in The Globe and Mail, February 13, 2023.
What goes into a registered retirement savings plan (RRSP) must eventually come out and be taxed as income. Often, that happens after the RRSP has been converted into a registered retirement income fund (RRIF), at which point a specific percentage must be withdrawn every year.
