What is the benefit of contributing to a spousal RRSP?

Allan Madan, CA
 Feb 12, 2014

Contributing to a spousal RRSP is advantageous if you and your spouse/common-law partner have different income levels. This is because the spousal RRSP contributions allow spouses to split income more equally at retirement. The spouse who expects to have higher income at the time retirement should be the one to contribute to the spousal RRSP. The RRSP will be registered in the name of the spouse and he/she will be the owner of the investments within the RRSP. However, for any contributions made, it is the contributor who will be receiving the tax deduction, and whose RRSP deduction limit will be reduced.



The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.

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