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How much does it cost to cash in my rrsp in ontario

 
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Gerardo


How much does it cost to cash in my rrsp in ontario?
0     In Property

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    Q. What happens if you cash in an rrsp to buy property?


    What is the tax rate when I withdraw some of my RRSP money? I know there is an amount taken off right away but what is the rate payable at tax time?

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    Q. Reducing child support in ontario?

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    I have paid child support for 18 years. when i was unemployed, i continued to pay, even cashing out an rrsp and taking a loan to do so instead of filing a change of circumstances with the court. i wanted to do the "right thing" for my children, so i willingly incurred the debt. now, i am seriously in debt because of this as well as the continuing support that i pay. in addition, my ex and daughter decided that she would go to university this year (without consulting me as to where, whether she would live in residence, etc) and has sent me a bill for $8000/year (in addition to continuing to want the child support she receives even though my daughter will be living on campus and i only see her once or twice a year, she is pretty much estranged from me). my ex's income is $250k and mine is $120k. i' m at a point financially where i am terrified about losing my home and cannot afford to continue paying support at this rate, let alone school costs that i was not consulted about. pls. help

    You need a local lawyer, but you seem to have a case. 1. Daughter is 18 2. Check the laws about paying for college, there *may* be some requirement. 3. The daughter is not living at home, and CS is usually based on where the child lives. This may be grounds to petition for a change. 4. If your income or her income has changed since CS was set, that is another legitimate reason to petition for a change. Make sure you organize your documentation to show your history of faithful payments.

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