Example of how much income to report on each spouse's return
In May 2017, Joshua started contributing to his wife Keri's RRSPs. He contributed the following amounts to her RRSPs:
Joshua had contributed a total of $5,000 to Keri's RRSPs.
In 2019, Keri withdrew $4,000 from her spousal or common-law RRSPs. Before 2019, she had not withdrawn any amounts from her spouse or common-law partner RRSPs.
Keri determines that Joshua has to include $4,000 in his income on line 12900 of his 2019 Income Tax and Benefit Return, since the amount Joshua has to include as income is the lesser of:
- amounts he contributed to all spousal or common-law RRSPs for his wife in 2017, 2018, and 2019 ($5,000)
- amount his wife withdrew from her spousal or common-law RRSPs in 2019 ($4,000)
Keri does not include any amount in her income for this withdrawal.
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