Personal Finance

Spousal RRSP question

  • Last Updated:
  • Jan 21st, 2014 10:53 am
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[OP]
Newbie
Jul 19, 2003
43 posts
Toronto

Spousal RRSP question

My spouse has $XX,XXX of unused contribution room. I am a stay at home parent. My question is a) can my spouse contribute all her unused contribution room to me this year b)and not use all the deduction this year but over the next few years to get out of the highest marginal tax bracket and c)i start withdrawing the money in three years over the next few years.

Thanks!
2 replies
Member
Aug 17, 2008
461 posts
186 upvotes
Quebec
a) yes b) yes c) yes
Deal Addict
User avatar
Feb 1, 2005
2131 posts
154 upvotes
Just want to add that for (c), you have to make sure that there aren't any new contributions being made within those three years before you withdraw the money. You can't assign which contributions the withdrawals are coming from. It's last in, first out.

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