Retirement Compensation Arrangements: Are They Right For You?
An RCA is perhaps the most effective and misunderstood tax deferment opportunity that exists in Canada today. It may be used for a wide range of situations, including small business owners, athletes, incorporated professionals, highly paid executives receiving yearly bonuses, and those approaching retirement. In 1986 it was recognized by the CRA that individuals not participating in a defined benefits plan suffered from pension discrimination. In other words, because of