Every year at this time of year I see a few struggling taxpayers who put money into an RRSP, only to hit a roadblock and need to take it back out. The problem is, withdrawing from your RRSP increases your taxable income – which could affect government benefits and tax credits – and your overall tax bill. If you need more flexibility, you should consider a TFSA. … to read more download: “Financial Notes” Connection Article April 2011
