Are Your RRSP Investments "Qualified"?

The so-called "RRSP season" ended on March 1 this year. That was the last date you could make RRSP contributions eligible for a 2021 deduction. But the urgent push to get you to contribute through February is something of a long-standing marketing gimmick by financial institutions to persuade you to give them more of your money. It works, because many people simply ignore their RRSPs through the year and then scramble to come up with funds in February. In truth, because of the magic of long-term compounding, RRSPs work a whole lot better if you contribute regularly through the year with some type of automatic deposit plan.

Getting the best return on your RRSP investment is the ultimate objective, of course. But you can only do that by ensuring that whichever investments you choose actually qualify as an RRSP investment. The tax rules and regulations specify that if any of your investments are not on the Canada Revenue Agency's (CRA) qualified list, you could face a