SPOUSE RRSP CONTRIBUTION

[msgair]

I have maxed out my RRSP contribution, per my 2016 limit; can my spouse then designate their contribution "to your spouse's RRSP", considering that the total designated to my RRSP will then be over my limit?

Thank you

[Delphision · Accepted solution]

I don't think it works that way.  If your spouse makes a spousal contribution, he/she would get the deduction, but it would go to his/her RRSP account, not yours.  There are also rules about withdrawals of spousal RRSP's.

[TurboTaxAllen]

All RRSP contributions, whether they are to your RRSP or your Spouse's RRSP (Spousal Plan) relate to your RRSP deduction limit, and whether you will be able to claim them for deduction, or whether you have Excess RRSP contributions.  A contribution to a Spousal Plan only relates to the contributor's RRSP deduction limit, and not the spouse's RRSP deduction limit.  The "annuitant', the person who will receive the retirement benefit from the RRSP, is the person who controls the plan, even though the spouse makes the contributions to the plan. In principle, Spousal RRSP plans allow the one spouse to share their income, where they receive a deduction from their income to be included int eh spouse's income at a later date.  This principle is negated by early withdraws from the spousal plan, where the income would be attributed back to the contributing spouse.
For additional information: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/cntrbtng/spsl-eng.html