If my partner opens a Spousal RRSP for me and contributes to it, can I also contribute to the same one and use it as my RRSP, or do I need to open up a separate RRSP account?
Can you refer me to a website also?
Thx
jo
Spousal RRSP
Moderator: Mark T Serbinski CA CPA
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by jfd5356</i>
If my partner opens a Spousal RRSP for me and contributes to it, can I also contribute to the same one and use it as my RRSP, or do I need to open up a separate RRSP account?
Can you refer me to a website also?
Thx
jo
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
You would open a separate account. They do this, amongst other reasons, so that spousal and personal contributions are kept separate, because the spousal amounts can be taxed in the hands of the contributor, depending on when they are withdrawn.
As to a webite, I suggest a Google search using the words "how rrsp contribution spouse".
/crh
If my partner opens a Spousal RRSP for me and contributes to it, can I also contribute to the same one and use it as my RRSP, or do I need to open up a separate RRSP account?
Can you refer me to a website also?
Thx
jo
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
You would open a separate account. They do this, amongst other reasons, so that spousal and personal contributions are kept separate, because the spousal amounts can be taxed in the hands of the contributor, depending on when they are withdrawn.
As to a webite, I suggest a Google search using the words "how rrsp contribution spouse".
/crh