Tax Planning Tips for You Investors in Canada and Beyond

CBC News has a great article today about the Top 10 year-end tax planning tips for investors. It’s getting close to that time of the year for both Americans and Canadians, and Financing Wealth doesn’t care where you’re from, you can all learn to adapt these tips to your country.

The tips are written in detail at the link above but we’ll give you a recap here.

1. Invest in a resource tax shelter

2. Donate stock?

3. Defer sales til 2007, defer capital gains

4. Book looses outside registered plans

5. RESP’s

6. Spousal RRSP contributions

7. Converting RRSP’s

8. RRSP contribution with tax refunds

9. 69+? Contribute to RRSP and defer taxes

10. Avoid non-reg’d contributions ’til the new year

For those of you outside of Canada these tax defering tips can still help out in your 401K and IRA retirement plans. Just dig and think outside the box.

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