Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is a spousal RRSP? And how does it work?

April 26, 2017RRSP spousal

0

Posted

What is a spousal RRSP? And how does it work?

1 Answer

0

Posted

In a spousal RRSP, you can contribute to an RRSP for the benefit of your spouse. You get the deduction from taxable income, but your spouse will receive the funds from the plan when they are withdrawn, and your spouse will report the income for tax purposes.