If an employer makes contributions to the company group RRSP for employees who are new to Canada and have not filed a tax return will they be penalized?
If an employer makes contributions to the company group RRSP for employees who are new to Canada and have not filed a tax return will they be penalized?
Are you asking in this case if the employer will be penalized or the employee for not filing his tax return?
If an employer makes contributions to the company group RRSP for employees who are new to Canada and have not filed a tax return will they be penalized?
Thanks for asking.
I'm asking if the employee will be penalized for the employer putting funds in their RRSP when they haven't yet filed a tax return, so therefore don't have an RRSP limit.
The CRA say mandatory RRSP contributions are not penalized, but GWL say employer contributions to a group plan are not mandatory and so will be penalized.
The company pays 4% to the plan after 3 months' employment, so it is considered a part of their total compensation package.
If an employer makes contributions to the company group RRSP for employees who are new to Canada and have not filed a tax return will they be penalized?
No, the employee won't get penalized - for more information please contact CRA directly so that they may advise you.
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