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Registered Retirement Savings Plan
A Canadian account for holding savings and investment assets, with certain tax benefits aimed at retirement planning.
Income Tax Act
Legislation governing the taxation of income in a specific jurisdiction, outlining the regulations for income tax collection and enforcement.
Earned Income
Income derived from active participation in a trade or business, including wages, salaries, tips, and other professional fees.
Disposable Income
The amount of money an individual or household has to spend or save after taxes have been deducted.
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