CFSP PowerPoint presentation
CFSP PowerPoint presentation
CFSP PowerPoint presentation
- No tags were found...
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Salary 1. $53,000 2. $65,000 3. $85,000<br />
Example for : PiL PiL <strong>CFSP</strong><br />
Years of service 5<br />
DOE 2007<br />
Payment in lieu (PiL) OR<br />
Severance<br />
16<br />
DOE 1996<br />
30<br />
DOE 1982<br />
$1,019 x 5 = $5,096 $1,250 x 16 = $20,000 $1,634 x 30 = $49,038<br />
Your personal RRSP limit none $4,000 $6,000<br />
Pre 1996 section 60 j.(1)<br />
limit<br />
SISIP Financial Services / Services financiers du RARM<br />
N/A N/A $2,000x14 yrs=$28,000<br />
Net taxable amount $5,096 $20,000 - $4,000 =<br />
$16,000<br />
Approximate net $ left<br />
on PiL/<strong>CFSP</strong> after taxes<br />
& RRSP contribution<br />
New Brunswick<br />
What you do depends<br />
on YOUR financial<br />
situation<br />
~$3,358 ~$10,537<br />
(+$4,000 in RRSP)<br />
$49,038–$34,000=<br />
$15,038<br />
~$9,432<br />
(+$34,000 in RRSP)<br />
Pay off or reduce debt Lump sum payment on mortgage<br />
Home renovations Contribute to RRSP/TFSA<br />
Holiday New car<br />
Taxable income Marginal tax rates
Change language