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The RRSP contribution deadline to enjoy the tax break for 2015 is Monday February 29th

If you are a FIRST TIME HOMEBUYER and are holding/accumulating down payment funds in cash or a non tax savings structure AND don't think you'll be buying for at least 90 days, consider putting up to $25,000 of your down payment into a RRSP before the deadline.

WHY? Well, if you put your $$ into an RRSP by February 29th, technically you can withdraw up to $25,000 of your RRSP on or after May 30th to use towards your down payment as a first time homebuyer AND reap the tax break for against your 2015 or 2016 taxes!

YESSIREE - that's a legitimate double dip. The KEY is that the funds need only be vested in a RRSP a minimum of 90 days before withdrawal to realize both benefits.

Like more info? Or a referral to a financial advisor that can assist you with this?

Call Sharon Davis 604-220-2343 today!

sharon@myimsmortgage.com

105-1061 Ridgeway Avenue
Coquitlam, BC V3J 1S6
Canada

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