Tax and estate planning

10 tax ideas to get your personal finances in order

These 10 ideas from our tax experts can get your personal finances in order, no matter if you’re working or retired.

Get your personal finances in order with advice from our tax experts, no matter if you’re working or retired.


1. RRSPs: how to avoid tax penalties

A Registered Retirement Savings Plan (RRSP) lets your retirement savings grow on a tax-deferred basis. But watch out for that contribution limit. Here are some tips on how to make the most of your RRSP and avoid tax penalties. 

2. Strategies to maximize TFSA benefits

The TFSA has grown in popularity over time. Are you maximizing the value of your account? This article provides some tips to do so.

3. TFSA, RRSP or RESP: which should you choose?

There’s no shortage of investment vehicles for your retirement funds in Canada. The key to good planning is having an advisor to help you make good choices. These tables show you how the products compare. 

4. And what about the FHSA?

Since April 1, 2023, Canadians who want to enter the real estate market can save up to $40,000 to buy their first home in a Tax-Free First Home Savings Account (FHSA). This article looks at the key features of an FHSA and answers some questions you may have.

5. Where to best park your extra money

You’ve set aside some extra money and want to put it to best use? Here's a few tips to put your spare cash to best use. 

6. CPP/QPP Benefits: now or later?

Is it a good idea to delay receiving your Canada Pension Plan/Quebec Pension Plan benefits? It’s a common question for people nearing retirement. Our Tax and Estate Planning team at Sun Life Global Investments, explains the factors you need to consider when it’s time to make your decision. 

7. Getting ready to retire: what documents do you need?

Whether to delay CPP or QPP benefits is just one of many questions people have about retirement. Our Tax & Estate Planning team has assembled a list of documents you should have on hand when preparing for this important stage in your life. 

8. Taxes: keep an eye on your retirement income

You may be in for an unpleasant surprise at tax time if you have income during retirement. Getting advice from an advisor is one of the keys to good planning, says the Sun Life Global Investments Tax and Estate Planning team. They also share some guidance on how to avoid paying too much tax if you’re in this situation. 

9. How to leave a hassle-free estate

Having a tidy home makes your household run more smoothly. The same applies to your estate. In this article, our Tax and Estate Planning team at Sun Life Global Investments explains how you can save your heirs a lot of hassle by talking to experts. 

10. Probate: the good, the bad, and the ugly

Learn about the process of probate so that you can make informed choices around estate planning. This article presents investment products available that may help to support you in creating a complete estate plan.

Information contained in this article is provided for information purposes only. Its not intended to provide or be a substitute for professional, financial, tax, insurance, investment, legal or accounting advice and should not be relied upon in that regard. It also does not constitute a specific offer to buy and/or sell securities. You should always consult your financial advisor or tax specialist before undertaking any of the strategies discussed in this article to ensure that all elements and your personal circumstances are taken into consideration in developing your individual financial plan. Information contained in this article has been compiled from sources believed to be reliable, but no representation or warranty, express or implied, is made with respect to its timeliness or accuracy and SLGI Asset Management Inc. disclaims any responsibility for any loss that may arise as a result of the use of the strategies discussed.