What are the tax benefits of an RRSP+ with the Fonds de solidarité FTQ?

An RRSP+ with the Fonds provides two tax benefits that, when combined, can save you between 57% and 83% in tax on the amount contributed!

First benefit: Tax credits

With the RRSP+, you’re eligible for two tax credits that, when combined, add up to 30% in tax savings.[1] The maximum contribution amount eligible for tax credits is $5,000 per year, per person, which represents an additional tax savings of $1,500 ($750 at the Quebec provincial level and $750 at the federal level).

Second benefit: Basic RRSP tax deduction

You’ll also benefit from the tax deduction for which all RRSP holders are eligible. These tax savings vary from 26.5% to 53.35% depending on your marginal tax rate.

Legal Notes
The acquisition of shares of the Fonds de solidarité FTQ may give rise to labour-sponsored fund tax credits. The tax credits amount to 30%, namely 15% at the Quebec level and 15% at the federal level, and are limited to $1,500 per fiscal year, which represents a $5,000 purchase of shares of the Fonds de solidarité FTQ. On March 1, 2024, The Government of Québec announced in Information Bulletin 2024-3 that tax legislation would be amended to postpone by three years the rule providing that the tax credit would be available only to individuals whose taxable income for a given taxation year was below the highest tax rate. Please note that this postponement may be subject to legislative changes.
Please read the prospectus before buying Fonds de solidarité FTQ shares. Copies of the prospectus may be obtained on the Website fondsftq.com, from a local representative or at the offices of the Fonds de solidarité FTQ. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends and do not take into account income taxes payable by any security holder that would have reduced returns. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.