TYPES OF ACCOUNTS

Question 1

REGISTERD ACCOUNTS
reg. w who?
show id?
what types?
taxable?

Answer 1

-registered with the gov
-RRSP,RESP,LIRA,RRIF,RDSP,annuities
-do not need to show id
-fully taxable
-one sending $ and receiving $ should be the same person

Question 2

NON- registered account

Answer 2

-not registered w gov.
-MUST SHOW ID
-50% TAX
person sending and receiving $ can be 2 separate people

Question 3

TFSA

Answer 3

TAX- FREE savings account