TaxTips.ca
Canadian Tax and
Financial Information
Term Deposits and GICs

Ads keep this website free for you.
TaxTips.ca does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

Looking for US tax information?
See
USTaxTips.net

Need an accounting, tax or financial advisor? Look in our Directory.      Stay Connected with TaxTips.ca!

Home
What's New
Calculators
Personal Tax
Business
Sales Taxes
Free in 30!
Financial Planning
RRSP RRIF TFSA
Real Estate
Stocks Bonds etc.
Seniors
Disabilities
Canada
Alberta
British Columbia
Manitoba
Ontario
Quebec
Saskatchewan
Atlantic Provinces
Territories
Federal Budget
Provincial Budgets
Statistics etc.
Glossary
Site Map
Directory
Advertise With Us
Contact Us/About Us
Links & Resources



Stocks, Bonds etc.  ->  Investing Tax Issues -> Term deposits and guaranteed investment certificates

Tax Treatment of Income from Term Deposits and GICs

This information is regarding investments which are held outside of RRSPs or other registered accounts.

Term deposits and guaranteed income certificates (GICs) generate interest income, which is 100% taxable.

This type of investment provides no opportunity for tax savings, and little or no opportunity for investment growth

Tax Tip:  Term deposits and GICs are better held inside a registered account, because 100% of the income is taxable when not in a registered account.

Revised: September 19, 2017

 

Copyright © 2002 - 2017 Boat Harbour Investments Ltd. All Rights Reserved  See Reproduction of information from TaxTips.ca

Facebook  | Twitter  |  Google + |  Monthly Newsletter Sign-up  What’s New E-mail Notification RSS News Feed
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.