TAX MYTH – Spousal RRSP Contributions
Written By Kyle 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 […]
