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Seniors and students
When you purchase an rrsp you are eligible for the deduction claim based on your rrsp deduction room. Since you purchased a spousal rrsp you receive the deduction and your spouse owns the plan, therefore you cannot designate her rrsp to repay your LLP. I am not fully understanding how you over contributed to your wife's spousal as it is based on your rrsp deduction room when purchasing a spousal rrsp. If you over contributed over your limit then you will have a carryforward deduction for next year. Again the plan is owned by your spouse so you cannot designate any amounts to your LLP,
‎October 30, 2019
10:38 AM