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A Canadian Dividend Stock Is Leaving Canada — What Algonquin Power's US Move Means for Your RRSP and TFSA

  Published August 9, 2026 Algonquin Power's move to Delaware could change how your dividends are taxed — and whether index funds keep holding the stock at all. If you've owned Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) in your RRSP or TFSA for the dividend, pay attention this week. On Friday, August 7, the Oakville, Ontario-based utility announced it plans to leave Canada — reincorporating as a Delaware company with its head office moving to Chicago. It's not a rumour or a boardroom leak. It came straight from the company's own Q2 2026 earnings release, and CEO Rod West was blunt about the reasoning: more than 80% of Algonquin's operations are now in the United States, with less than 5% left in Canada. The plan is to align the corporate address with where the business actually lives. What's actually changing Here's the plan as Algonquin has laid it out: The company would formally "continue" out of Canada and reincorporate in Delaware,...
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RRSP 2024 Deadline: What You Need to Know (and Whether You Should Contribute)

 


As the RRSP contribution deadline for 2024 approaches, it’s essential to understand the basics of Registered Retirement Savings Plans (RRSPs) and make informed decisions about your financial future. Let’s dive into the key points:

What Is an RRSP?

An RRSP (Registered Retirement Savings Plan) is a tax-sheltered investment vehicle available to Canadians. Here’s how it works:

  1. Tax Deductions: Contributions to your RRSP are tax-deductible. When you contribute, your effective earned income decreases, resulting in a lower marginal tax rate.
  2. Tax-Deferred Growth: Any gains made within an RRSP are tax-deferred. You only pay taxes when you withdraw funds.
  3. Annual Contribution Limit: RRSPs have an annual contribution limit, which carries over any unused room from previous years.

RRSP Contribution Deadline for 2024

The RRSP contribution deadline for the 2023 tax year is February 29, 2024. Contributions made during the first 60 days of the year can be applied against the previous taxation year or any subsequent year.

Why Contribute to an RRSP?

  1. Tax Benefits: RRSPs offer attractive tax characteristics. Contributions are both tax-deductible and tax-deferred.
  2. Retirement Planning: RRSPs help you prepare for retirement by building a nest egg.
  3. Investment Flexibility: RRSPs can hold various investment vehicles, including bonds, mutual funds, equities, and more.

Should You Contribute?

While RRSPs remain stalwart financial choices, some experts advise caution. Consider the following factors:

  1. Stretching Finances: Many Canadians feel stretched when saving for retirement.
  2. Alternatives: Newer options like the First Home Savings Account (FHSA) may be worth exploring.
  3. Individual Circumstances: Assess your financial situation and goals before contributing.

Remember that RRSPs play a crucial role in long-term financial planning. Consult with a financial advisor to determine the best approach for your unique circumstances.

Maximize your RRSP contributions where possible, stay informed about deadlines, and make decisions that align with your financial objectives. Whether you’re a seasoned investor or just starting, RRSPs remain a valuable tool for securing your financial future.


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