Canadian Bills: Contribution Deadline and Tax Shelters

canadian bills: Canadian 100 bills are counted in Toronto, Feb. 2, 2016, according to The Toronto Star. The registered retirement savings plan RRSP is one of the best-known tax shelters available to Canadians, particularly in the weeks before the annual contribution deadline, which is March 1 this year. But financial experts say a tax free savings account TFSA is often a better choice over the long run. But financial experts say a tax free savings account TFSA is often a better choice over the long run. Jason Pereira, a partner at Woodgate Financial Inc. in Toronto, says TFSAs are generally the better choice for people with modest or low annual income. Graeme Roy / THE CANADIAN PRESS The problem is, many people don't know what make a TFSA different from an RRSP. A report by Bank of Montreal estimates that 32 per cent of Canadians are in that camp. (news.financializer.com). As reported in the news.