Build a Retirement Plan That Works Harder — and Smarter — for You
Tax-efficient income planning
As Canadians, we face some of the highest personal tax rates in the world. That’s why having a tax-efficient retirement income strategy is essential to preserving your wealth. At OBS Tax Services, we don’t just calculate your taxes — we design long-term plans that help ensure more of your income goes to your family and future, not to the Canada Revenue Agency.
The Oakbank tax services retirement planning process:
Step 1: Initial Meeting – Understanding Your Income Needs
We begin by learning about your lifestyle and financial goals:
How much monthly income do you need?
What assets, RRSPs, TFSAs, and investments do you hold?
What are your contribution limits or unused carry-forwards?
This meeting gives us the foundation to build a tax-focused plan tailored to your situation.
Step 2: Customized Income Plan
We create a comprehensive income and withdrawal plan that balances current needs with long-term goals.
This plan shows how to draw from RRSPs, RRIFs, pensions, and TFSAs to:
Minimize tax on withdrawals
Preserve government benefits
Extend the life of your savings
Step 3: Review and Coordinate
Once your plan is complete, we meet to review it together.
You’ll receive a clear summary that you can share with your financial advisor, bank, or investment manager to ensure everything works together.
Step 4: Annual Review and Adjustments
Life changes — and so should your tax plan. Each year, we review your income strategy to account for:
Market shifts
New tax legislation
Changes in income, health, or lifestyle
This ongoing partnership ensures your plan remains aligned with your goals and remains tax-efficient throughout retirement.
Build a Retirement Plan That Works Harder — and Smarter — for You
Tax-efficient income planning
As Canadians, we face some of the highest personal tax rates in the world. That’s why having a tax-efficient retirement income strategy is essential to preserving your wealth. At OBS Tax Services, we don’t just calculate your taxes — we design long-term plans that help ensure more of your income goes to your family and future, not to the Canada Revenue Agency.
The OBS Tax-Efficient Retirement Planning Process:
Why Tax Planning Matters in Retirement:
Understanding RRSPs and RRIFs
Registered Retirement Savings Plan (RRSP):
Your RRSP allows you to defer taxes while you build your retirement savings. Contributions are tax-deductible, and growth inside your RRSP is tax-sheltered until you withdraw.Registered Retirement Income Fund (RRIF):
When you retire, your RRSP transitions into a RRIF — turning your savings into steady income. Withdrawals are taxable, but with smart timing and planning, we can help you draw income efficiently while preserving your tax credits and benefits.
By coordinating RRSP and RRIF withdrawals with your other income sources, we help ensure you don’t pay more tax than necessary — and that your estate transfers efficiently to your family, not the government.
Step 1: Initial Meeting – Understanding Your Income Needs
We begin by learning about your lifestyle and financial goals:
How much monthly income do you need?
What assets, RRSPs, TFSAs, and investments do you hold?
What are your contribution limits or unused carry-forwards?
This meeting gives us the foundation to build a tax-focused plan tailored to your situation.
Step 2: Customized Income Plan
We create a comprehensive income and withdrawal plan that balances current needs with long-term goals.
This plan shows how to draw from RRSPs, RRIFs, pensions, and TFSAs to:
Minimize tax on withdrawals
Preserve government benefits
Extend the life of your savings
Step 3: Review and Coordinate
Once your plan is complete, we meet to review it together.
You’ll receive a clear summary that you can share with your financial advisor, bank, or investment manager to ensure everything works together.
Step 4: Annual Review and Adjustments
Life changes — and so should your tax plan. Each year, we review your income strategy to account for:
Market shifts
New tax legislation
Changes in income, health, or lifestyle
This ongoing partnership ensures your plan remains aligned with your goals and remains tax-efficient throughout retirement.
Why Tax Planning Matters in Retirement:
Understanding RRSPs and RRIFs
Registered Retirement Savings Plan (RRSP):
Your RRSP allows you to defer taxes while you build your retirement savings. Contributions are tax-deductible, and growth inside your RRSP is tax-sheltered until you withdraw.Registered Retirement Income Fund (RRIF):
When you retire, your RRSP transitions into a RRIF — turning your savings into steady income. Withdrawals are taxable, but with smart timing and planning, we can help you draw income efficiently while preserving your tax credits and benefits.
By coordinating RRSP and RRIF withdrawals with your other income sources, we help ensure you don’t pay more tax than necessary — and that your estate transfers efficiently to your family, not the government.
