Canadian High Interest Savings Bank Accounts

You owe it to yourself to earn more money but how you ask? Sure you could ask your boss for a salary increase, but with this recession….highly unlikely!!!. You could work extra hours or overtime, but that's not happening since business is slow. What is a good worker like yourself to do in these tough economic times?

So yesterday I sent in a request to my RRSP issuer to pay me $5,000.00!!!!Yep it was that easy!!! I looked at the RRSP tax withdrawal rates that you pay when you want to take your money out. For all provinces except for Quebec you pay:

1)Amounts up to $5,000.00……..10%
2)$5000.01 to $15,000.00……….20%
3)$15,000.01 and up……………..30%

In my case I only lose $500.00 and walk away with $4,500.00 NET cash which can be used to buy a car, house, sailboat, furniture, or just about anything I want to buy.
As an added bonus, you get the bragging rights of telling your co-workers and friends you now make $5,000.00 more per year!!!! I love telling people what I make per year, and enjoy handing out photocopies of my bank statement!!! In summary, if you want to boost your income and feel great!!! take out $5,000.00 from your RRSP's, you'll be glad you did!!!!

Roc

I suspect that Roc has never been exposed to "employment income", so he probably isn't aware that you would have to claim the full $5000 as income on your next tax return and pay the balance of the taxes oweing next April. "You just keep thinking Roc… that's what you're good at!" (adapted from Butch Cassidy and the Sundance Kid)