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ARTICLE · 27 JANUARY 2014

What's In, What's Out: A Refresher Course On RRSPs For Investors

Minden Gross LLP
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With the March 3rd RRSP deadline fast approaching, it’s hard not to think about topping up your contribution for 2013.

CanadaTax
Samantha Prasad
Samantha Prasad
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With the March 3rd RRSP deadline fast approaching, it's hard not to think about topping up your contribution for 2013.

For some of us, that's the extent of our concern as we leave our investments in the hands of an advisor. But for oth- ers that prefer a bit more of a hands on approach (like those of you who own self-directed RRSPs), here's a refresher course on what type of investments qualify for your RRSP.

Tax rules and regulations specify that if the investment is not on CanRev's qualified list, you could face an add-on to your income based on the cost of all non-qualifying investments – even though they're held within your RRSP. So these should be avoided. By the way, similar requirements for qualified investments apply to RESPs and TSFAs.

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