Expert: Steven Taylor - 6/15/2010

Question
Hi Steven
I have reached the point where I have maxed out my RRSP's.
Is there any other way now to avoid paying tax and possibly getting some personal benefit?
I am also thinking about a tax free savings account and letting it build up so I can make payments on the principal of my mortgage.
I dont really feel like making large charitable donations as I do that already with automatic payroll deductions.
Thanks for your thoughts and enjoy your summer!

Answer
Bud, I am not an expert on taxation issues, but in general, if you have maxed out your RRSP's, a tax free savings account looks like a good way to go. However, from the description of your situation, it looks to me like a professional tax advisor could really help you with additional avenues for savings that meet your specific situation.