Here are some possible strategies for investors who have maxed out their RRSP and TFSA contribution room.
The registered retirement savings plan (RRSP) and the tax-free savings account (TFSA) are widely considered to be essential tools for sheltering investment returns from taxes. The former allows you to defer your tax bill until the funds are withdrawn (usually at retirement), and the latter provides a permanent tax shelter for your deposits and any appreciation.
However, both of these vehicles have contribution ceilings. And for individuals with significant income, these ceilings might not be high enough to accommodate the investment of all their available savings in a tax-efficient manner.