
Originally Posted by
shanna dior
This must be a South African thing (I'm guessing, since that's what it says your location is), so not really relevant to the OP who is located in Canada.
OP, you can put money into an RRSP (Registered Retirement Savings Plan) and then deduct it on your taxes, but with a 25k annual income, it isn't really worth it. You get the greatest benefit from the RRSP by contributing when you're at a higher tax rate than you will be when you draw from it. Once you get into the second tax bracket (around 45k), then start looking into RRSPs.
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