Search results
People also ask
Can I contribute to my spouse's RRSP If I'm 71?
When can I contribute to a spousal RRSP?
Can a RRSP grow tax-free if a spouse turns 71?
What is a spousal RRSP?
When is the last time I can contribute to my RRSP?
Can a spousal RRSP reduce income tax After retirement?
Although you cannot contribute to your RRSP after December of the year you turn 71 years old, you can still contribute to your spouse's or common-law partner's RRSP until the December of the year that they turn 71. For more information, see RRSP options when you turn 71.
Jan 15, 2024 · After December of the year you turn 71 years old, you can contribute up to your RRSP deduction limit to a spousal or common-law partner RRSP if your spouse or common-law partner is 71 or younger on December 31 of the year you make the contribution.
Jan 15, 2024 · December 31 of the year you turn 71 years old is the last day that you can contribute to your RRSPs. Topics. Options for your own RRSPs. Spousal RRSPs or common-law partner RRSPs. If you participated in the Lifelong Learning Plan (LLP) The participant of the HBP reaches the age of 71. What to do with unused RRSP, PRPP or SPP contributions.
Dec 4, 2023 · An income tax reduction in the tax year you make a contribution, up to your annual contribution limit, even after you turn 71 as long as your spouse is younger than 71. Investments within the RRSP can grow tax-free, as long as no funds are withdrawn.
Jun 21, 2021 · Can you own a spousal RRSP and an individual RRSP? The owner of a spousal RRSP may be able to contribute to their account themselves and claim a personal RRSP tax deduction.
May 13, 2024 · No, you can’t contribute to your spouse’s RRSP if they are over 71 years old. The end of the year in which an individual turns 71 is the deadline for making contributions to their own RRSP or a Spousal RRSP in their name.
Mar 22, 2021 · Answer 1: You can contribute to a spousal Registered Retirement Savings Plan (RRSP) until Dec. 31 of the calendar year your spouse turns 71, regardless of your own age. So, if your wife turns 71...
