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SPOUSAL RRSP

RRSP contributions may also made to spousal RRSP plan. Spouse and common-law partner are permitted in this plan. If the spouse or common-law partner will have lower tax bracket when funds are withdrawn, it may be advantage to contribute to spousal RRSP account. If funds are withdrawn from spousal RRSP account in first three years you will be required to include withdrawal amount in your income. After three years withdrawal amount be included in your spouse‘s income.

Sahib Insurance Advisors will help you thru the process.

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