Incitec Pivot Ltd T.IPL

Re discussion

[marketsense]

Guys,   I have just 2 points to add to this about tax advantage strategies when it comes
to reporting income & capital gains.  Before TFSA's were around,  the only vehicle that offered
any tax reduction for those saving and investing for retirement was RRSP's and so millions if
not billillions of $'s went into them.  Now as a senior myself having locked up all that capital
including capital gains and income in my wifes and my RRSP,  I have to pay the tax back that
I previously saved.  My point is that the tax saved earlier on was an added incentive to use
RRSP's and now we have to pay it back when we withdraw money to live on.  I really don't
have an issue over that while I do observe and appreciate the tax implications and how most
people hate paying taxes.  You got a credit earler on which benefitted you when you were younger 
and now you have to pay it back when you are older.  Seems fair to me or am I missing something?

What ticks me off is the new rules regarding obligatory withdrawals.  The gov't is now forcing
me to withdraw a minmum amt based on a formula that they have decided on.  Thats a forced
withdrawal.  I had free will to invest that money or not in my RRSP but now they are imposing
strict withdawal rules to recover the tax.  That is taking away my choice of how much and when
I decide to withdraw.  I for example,  have  enough retirement income from pension plans and
wanted to coninue wealth building in my RRP for a few years more,  I still have to withdraw
and pay the taxes.  They are assuming a lot about seniors that is not neccessarily accurate IMO.
and have interferred with my free choice on how to manage that asset.