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What's the difference between registered and non-registered plans?
Government-registered plans and accounts, like RRSPs, FHSAs, TFSAs and RESPs, let you grow your savings tax-free under certain terms and conditions.
Although non-registered accounts offer no tax benefits, they usually allow for more flexibility as they have no contribution ceiling or tax limitations.
Discover the main differences between registered and non-registered plans.
Related questions
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Are RESP withdrawals taxed? Learn about withdrawing from an RESP. -
Are TFSA contributions tax deductible? Learn the tax benefits of a TFSA. -
Are TFSA withdrawals taxed? Learn if TFSA withdrawals are taxable. -
By what age must a child withdraw funds from an RESP? Learn the maximum age to withdraw funds from an RESP. -
Can I carry forward my unused FHSA contribution room? Once you open an FHSA, you can carry forward your unused contribution room. Check out the details.
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