Solved: I made contributions to my RRSP's off my paycheck ...

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New Member

I made contributions to my RRSP's off my paycheck and my company matched them until I got laid off. If I took a payout of contributions, do I claim this as income?

Do I need to enter anything extra in my income box(es) when I chose to accept the payout from Great West Life upon termination from my employment?
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New Member

I made contributions to my RRSP's off my paycheck and my company matched them until I got laid off. If I took a payout of contributions, do I claim this as income?

Yes.  The amounts withdrawn from your RRSP are included in your income and are taxed.  You should receive a T4RSP slip for this showing the amount withdrawn and the amount of tax withheld

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Highlighted
New Member

I made contributions to my RRSP's off my paycheck and my company matched them until I got laid off. If I took a payout of contributions, do I claim this as income?

Yes.  The amounts withdrawn from your RRSP are included in your income and are taxed.  You should receive a T4RSP slip for this showing the amount withdrawn and the amount of tax withheld

View solution in original post

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