Spousal RRSPs still a valuable tax tool, say experts

8 February 2009

CTV.ca News, Parminder Parmar

In 2007, Ottawa introduced new rules that allow couples over the age of 65 to split some of their income for tax purposes. It’s a move that could help lower a senior couple’s overall tax payments.

But RRSP experts say the new “income splitting” legislation isn’t the only way — or may not be even the best way — for married or common-law couples to share and lower their tax burden for maximum benefit during retirement.

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