Published: March 12, 2020
Last Updated: March 16, 2020
Canadian income tax planning through the use of spousal RRSPs during working years permits the higher income spouse to get the tax benefit of the RRSP income tax deduction, while allowing income splitting by incurring tax on a lower income when the amounts are withdrawn on retirement.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
About the Author
