I have my brain in knots trying to figure this out and nothing There is online has quite responded the question. Hoping any of you fine people can help. My wife and I (27 y.o.) are beginner traders. I’ve a TFSA and RRSP open up in my own name on Questrade and have taken the lead in learning the ropes (and therefore handling the long-term investments).
Both of our paychecks are deposited into a distributed chequing account with our bank or investment company and our monthly investments should come out of this account. My question is approximately spousal distinction in conditions of tax implications for the RRSP. If all the contributions up to my very own RRSP limit are coming from our “shared” pool of money in the chequing accounts, how would the tax deferral work? Obviously there’s no way to distinguish which dollars are hers and that are mine so as it pertains to taxes season, would it be me who’s getting the refund because the investment was in my own RRSP?
Are contributions to that accounts presumed to participate in me for taxation purposes? If I may venture another question: we’re using the RRSP for US stocks (US/Global market ETF and some US indiv. US shares. The TFSA is for CAN stocks. Could it be unwise to be splitting the investments in the taxes sheltered accounts by this technique? Should I have sunk everything in to the TFSA until potential and then let the trickle over into the RRSP?
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