There Are Only Three Ways to Get Funds from Your

question 33

True/False

There are only three ways to get funds from your RRSP without paying tax on 100 percent of the withdrawal: the HBP,LLP and RRIF.

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Definitions:

Overhead Costs

Expenses related to the day-to-day running of a business that are not directly linked to the production of goods or services.

Operating Profit

The income generated from the main activities of a company, not including interest and tax expenses.

Markdown

The amount that the price of an item is reduced from the regular selling price.

Invoice

a document issued by a seller to a buyer that specifies the products or services provided and the amount due for payment.