A non-registered plan (commonly referred to as ‘open’ or ‘investment accounts’) enables investors to invest an unlimited amount of money in funds with exposure throughout the world. Non Registered plans are not tax sheltered, therefore the gains and losses are declared for income tax purposes every year.
Who should consider a non-registered plan?
- Investors who have reached their registered retirement savings plan (RRSP) contribution limits and would like to capitalize on their investments to carry out their plans, while retaining a certain amount of control over their investments.
- Investors wishing to accumulate amounts in the short term (financial cushion, vacation, etc.).
The most popular Open account we find with clients is a Daily High Interest Account and the one most recommended and accepted is from Manulife Bank.
Why? The main benefits are:
- Consistently offers the Best Interest Rate available in Canada
- Interest is paid on the First Dollar
- There are no minimum balances required
- You can operate the account with No Fees
- Your money is available 24/7 on-line or by ATM