Quote:
Originally Posted by 223MB
Lets say I buy $20,000 worth of RRSP, what kind of refund am I looking at on average.? I currently have my money in a Tfsa and stocks. My plan was to just cash those out and put the cash for the down payment.
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As Ryeguy pointed out 30% is a safe figure. Depending on your income it can be higher too. Just throwing out realistic numbers, on $20,000 you would receive $6-8000 back from your taxes. Which will buy furniture, appliances, upgrades or repairs. Better yet, get that TFSA working for you again, and compounding for the next 40 years.