A Different Perspective On Spousal RRSPs

During this tax season there have been lots of tax-savings suggestions to be found in the various financial magazines, Canadian MoneySaver included. One of these tax-savings tips being put forth is that of contributing to your spousal RRSP. This is especially useful if one of the individuals has much higher income and consequently a larger dollar amount in their RRSP. By contributing to the other person’s RRSP, you achieve an income splitting at a future point in time. Hopefully...