Opinion Poll

Registered Pension Plan contributions are added to income in full on final returns of singles or widows/widowers. Would it be fairer to average this lump sum over the 24 month period prior to death?

Comments


That doesn’t make sense.  RPP contributions on Line 20700 are a deduction. How can adding them to income be justified?

By Mitzi-Lynne Morgan on December 02, 2021


Any taxes on Seniors and their spouses is unfair

By ROBERT KELLEY on November 25, 2021


Future tax liability in a registered plan is an issue advisors need to bring up with their valued clients.  Strategies such as a RRIF meltdown and leveraged loans to offset the tax burden can to a long way to protecting your clients current and intergenerational wealth.  Getting great advice is the key to an individual’s and family’s financial success.  KB can help you give that great advice to your clients!

By Rob Nelson on November 25, 2021


It would be fairer to be able to average this out for the taxpayer.  After all, it took a long time presumably to accumulate the funds inside the registered account.  It should be average over a period so it doesn’t hit all at once.

By Robert A Litschel on November 17, 2021