Method and system for tax efficiently financing and...

Details Method and system for tax efficiently financing and... Method and system for tax efficiently financing and...

G - Physics

06

Q

G06Q 40/02 (2012.01)

Patent

CA 2716076

A method and system for financing retirement savings for an individual taxpayer who has a self-directed registered retirement savings plan ("SD RSP") and unused contribution limits. The taxpayer borrows from a lender at least a portion of the unused contribution limit to purchase an investment, such as a principal protected note, whose issue price and fair market value is the contribution amount, such that when the note is contributed to the SD RRSP as a contribution-in-kind, with the fair market value thereof being its issue price, the taxpayer will receive a deduction from income for tax purposes equal to the fair market value of the investment. The balance of the investment is payable by the taxpayer at maturity plus interest, preferably pursuant to a direction to the trustee of the SD RSP to pay from the SD RSP.

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