Friday, May 16, 2014

About RRSP, TSFA, and RESP

If I want to explain these word as short form,I'll say

RRSP:A Registered Retirement Savings Plan is a type of Canadian account for holding savings and investment assets. Introduced in 1957, the RRSP's purpose is to promote savings for retirement by employees and self-employed people. ...

TFSA:The Tax-Free Savings Account is an account that provides tax benefits for saving in Canada. Contributions to a TFSA are not deductible for income tax purposes. Investment income, including capital gains and dividends, earned in a TFSA is not taxed, even when withdrawn.

RESP:means respondent. That means the accused. In my state normally only used in youth and domestic cases but other places used for all defendants. 
Notice of discovery and demand is a formal notice that they get all the current information the prosecution has. In the US both sides have to share any information they get about the case. 
If one side does not supply and there is no demand on file then they can get away with it hiding stuff when it comes time for appeal. 
An alibi claim is just that. The defendant (actually counsel) is telling the court that their defense will be an alibi. As part of discovery they have to say so so prosecution can try figure out how to break the alibi or at least check it out.

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