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TFSA versus RRSP – What you need to know to make the most of them in 2023
When looking to save money in a tax-efficient manner, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) can offer significant tax benefits. The main difference between the two is that TFSAs are ideal for short-term goals, such as saving for a down payment on a house or a vacation, as its growth is entirely tax-free, while RRSPs are more suitable for long-term goals such as retirement. When comparing deposit differences, TFSAs have a limit of $6,500 for the current year, while RRSPs have a limit of 18% of your pre-tax income from the previous year, with a maximum limit of $30,780. In terms of withdrawals, TFSAs have no conversion requirements and withdrawals are tax-free, while RRSPs must be converted to a Registered Retirement Income Fund (RRIF) at age 71 and withdrawals are taxed as income.

2023 Financial Calendar
Welcome to our 2023 financial calendar! This calendar is designed to help you keep track of important financial dates and deadlines, such as tax filing and government benefit distribution. You can bookmark this page for easy reference or add these dates to your personal calendar to ensure you don't miss any important financial obligations.

2022 Year End Tax Tips and Strategies for Business Owners
The end of 2022 is quickly approaching – which means for business owners, it's time to review tax tips and strategies to maximize your benefits.
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Aquafinancial Consulting
Walé Gbalajobi, BA, FICB, PFP
Financial Advisor
T: (403) 804-4486
aquafina@aquafinancialconsulting.com
Walé Gbalajobi, BA, FICB, PFP
Financial Advisor
T: (403) 804-4486
aquafina@aquafinancialconsulting.com
3402 8 Street SE
Calgary, AB
T2G 5S7
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We tailor all our financial consulting services to suit the needs of individual clients. We assign a team of dedicated personnel to work with every client. Our experienced personnel have years of experience in financial consulting making us ideal for all individual and small business financial consulting needs.