News & Education

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Manulife Presents the Canadian Federal Budget 2010
E-Newsletter - (PDF Format)

Budget 2010 – Almost nothing to speak off…

Finance Minister Jim Flaherty brought down his fifth Federal Budget on March 4, 2010. Tax measures were few and far between. There was literally almost nothing to speak of. A brief summary is provided of measures of any note to insurance and investment advisors.

Personal Tax Measures

Rollover of RRSP Proceeds to an RDSP
Budget 2010 proposes to extend the existing RRSP rollover rules to allow a rollover of a deceased individual’s RRSP proceeds to the RDSP (Registered Disability Savings Plan) of a financially dependent infirm child or grandchild.

The amount of RRSP proceeds rolled over into an RDSP will not be permitted to exceed the beneficiary’s available RDSP contribution room....read full article