Tag Archives: Home Buyers Plan

TAX MYTH – Spousal RRSP Contributions

Written By on March 2, 2017

With tax season over, we are taking a look at a common misconception we came across related to spousal RRSP contributions. Tax Myth: My spouse can deduct RRSP contributions I make to a spousal RRSP Unfortunately, this is not the case as RRSP contributions made to a spousal RRSP are deducted on the contributor’s tax return.  You will not be able to take advantage of your spouse’s tax brackets or RRSP contribution limits. The main purpose of a spousal RRSP […]

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