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    cinmcinnes
    New Member

    I've converted my RRSP to a RIF and I'm now receiving income from it; can I deduct the management fees for this?

    I have retired.  My money from my RRSP was transferred to a RIF and I'm receiving monthly  income from it as well as from my LIRF.  Can I deduct these management fees?

    posted
    ‎October 30, 2019 3:37 AM
    last updated ‎October 30, 2019 3:37 AM
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    TurboTaxTerry
    New Member

    I've converted my RRSP to a RIF and I'm now receiving income from it; can I deduct the management fees for this?

    Management costs of Registered Plans are not tax deductible as the amount is subtracted from the plan and therefore reduces future taxable income.

    View solution in original post

    ‎October 30, 2019 3:37 AM
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    1 Reply
    TurboTaxTerry
    New Member

    I've converted my RRSP to a RIF and I'm now receiving income from it; can I deduct the management fees for this?

    Management costs of Registered Plans are not tax deductible as the amount is subtracted from the plan and therefore reduces future taxable income.

    ‎October 30, 2019 3:37 AM
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    328
    Reply

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