On Thursday Nov 4th at 6:00 PM, this free session from Toronto Public Library will walk you through special considerations when planning your retirement on a tight budget.
Topics covered include:
- The importance of the GIS and how to minimize the amount of claw backs from other sources of taxable income
- OAS and GIS eligibility for newcomers
- What counts as taxable income and what does not
- How income from an RRSP can reduce or claw-back benefits, while income from a TFSA which is non-taxable will not
- When to apply for CPP and when to draw down from an RRSP
- and, what’s new in 2021 such as the one-time $500 payment, 10% increase to OAS this fall if you are over 75, RRIF rates going back up and CERB claw backs