Wednesday, February 27, 2008

Wake Us when it's Over Over

The Sleeper Budget.

Why only $5,000 a year in tax-free savings? Why not $10,000 0r $15,000?

More $ for students is a good thing, for Candu is not.

Torch the Torch.



1 comment:

anonamoose said...

The Tax Free Savings Account is really for low income people who have nothing to benefit from RRSPs.
Low income people tend to save more money than middle income earners, because they do not take on mortgages and credit cards, or buy useless $60,000 SUVs.
At retirement, they can withdraw their savings without affecting any benefits such as the Guaranteed Income Supplement.
Even if a person does not save anything in their lifetime, they could still put any windfall, such as a settlement from an estate into their TFSA, amounting to the number of years they have accumulated since age 18.
What is not clear is whether the years accumulated are retroactive to one's age 18, or begin only in 2009.