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Anna Bebekha<br />
02<br />
CLIENT<br />
Abacus Credit Union<br />
PROJECT<br />
Logo, two-sided rack card<br />
DESCRIPTION<br />
Logo creation - 2 color<br />
Create a two-sided rack card<br />
95 mm x 210 mm - CMYK bleed for<br />
Spousal RSPs<br />
RESPs<br />
Spousal RSPs<br />
What is a Spousal RSPs?<br />
Spousal RSPs are a means of income splitting for couples. They<br />
can help defer taxes right away, and reduce taxes in retirement. If<br />
one spouse has a higher income now, you should consider taking<br />
advantage of a Spousal RSP.<br />
What is income-splitting?<br />
Income-splitting is a way to reduce a family’s overall tax bill by<br />
shifting the income from a higher income earner to a lower<br />
income earner so that the same amount of income is taxed at<br />
a lower rate if the lower income earner’s income is low enough.<br />
How to equalize income in retirement<br />
Spousal RSPs allow a couple to create a retirement fund for<br />
both partners. A taxpayer may choose to contribute to their<br />
own RSP or to an RSP in their spouse’s name while claiming the<br />
contribution as a deduction on their tax return. The benefi t to<br />
the contributor is the tax deduction. In the long term the overall<br />
family tax bill will be reduced as income will be available for<br />
withdrawal by each spouse during retirement.<br />
A spousal RSP is also a way to defer taxes if you are no longer<br />
able to contribute to a personal RSP due to your age. As long<br />
as your spouse is 71 or younger, you can contribute to their<br />
Spousal RSP and still claim the tax deduction.<br />
Abacus Credit Union<br />
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101-13280 Nordel Way<br />
Surrey, BC V3W 1P8<br />
Tel: 604.323.2422<br />
Fax: 604.323.2423<br />
www.abacus_cu.ca<br />
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CREDIT UNION<br />
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CREDIT UNION<br />
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CREDIT UNION
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