“I took a break from Bay Street to co-write a musical”: Myron Genyk on his money values and getting financially cut off at 20 Jun 1st
How to be a better investor Mar 1st
How much are withholding taxes on RRSPs and RRIFs? Jun 15th

How much should I have in my RRSP? + MORE Feb 22nd
Should you loan money to someone who is house rich and cash poor? May 18th
How does a spousal RRSP withdrawal work?
– moneysense.ca
Spousal RRSP withdrawal rules: Timing matters
Tom, the rules around the timing of spousal registered retirement savings plans (RRSPs) can be confusing. If you don’t time the withdrawal correctly it may be taxed in your name rather than your spouse’s name, which is not what you want.
Let me see if I can clear this up for you and then I’ll give you some ideas on why a spousal RRSP is a good income splitting tool.
To answer your question, when you make a spousal RRSP contribution you have to wait two full calendar years, with no contributions, before you can make a withdrawal that is taxed in your spouse’s hands.
In your case, Tom, you made a contribution in Dec. 2019. You didn’t make a contribution in 2020 or 2021 which means if your spouse draws from the spousal account in 2022, he/she will be taxed on the withdrawal, not you as the contributor…