Do I have to show on my income tax all the rrsp I ...

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New Member

Do I have to show on my income tax all the rrsp I had withdraw last year or can I show some next year so it doesn’t hurt me so bad

 
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Do I have to show on my income tax all the rrsp I had withdraw last year or can I show some next year so it doesn’t hurt me so bad

If you withdrew funds from your RRSP, you must report on your tax return the amount which is shown on your T4RSP for that tax year.

You cannot defer this income, CRA receives copies of any T4RSP slips issued and if you were not to report the entire amount, they may automatically include it in your income when you file your tax return. Or they might "reassess" you when they do their annual slip matching, including it then and charge you penalties & interest on "unreported income". 

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