Published: January 11, 2022
Last Updated: October 21, 2022
A client approached Rotfleisch & Samulovitch P.C. and sought tax-planning advice about an imminent $1 million payout from a foreign pension.
Rotfleisch & Samulovitch P.C. recommended a payout structure allowing the client and the client’s ex-spouse to divide the pension per their separation agreement and qualify for the RRSP foreign-pension rollover under paragraph 60(j) of the Income Tax Act.
By following Rotfleisch & Samulovitch P.C.’s advice, they each saved $250,000 in income tax—a total tax savings of $500,000.
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