Life is not about the number of breaths we take, but for the moments that take our breath away.

This method of tax deferral is one of the most significant tax planning ideas available to Canadian taxpayers. By making contributions to a plan not later than 60 days after the current year-end a deduction from income can be taken in the current year for the amount within certain limitations. An immediate tax saving results and the tax refund can be reinvested or used currently for personal purposes.