This Valentine’s Day, Give the Gift That Shows You Care…Spousal RRSPs!

February 4, 2023

Think of a spousal RRSP like a bridge from one spouse to the other. One spouse can contribute to the spousal RRSP and deduct the contribution on their tax return, and then the money flows over a “bridge” to the partner which can then be withdrawn in their name in retirement. Money goes in one side at a high tax rate and comes out on the other side at a much lower tax rate.

And, while the 2022 RRSP contribution deadline of March 1st is fast approaching, why wait until the last minute? With Valentine’s Day right around the corner, the usual offerings of affection pale in comparison to a well-considered investment in a spousal RRSP!


Is that really the way we want to express our feelings for our cherished soulmate…with a box of empty calories, paid for at peak, pre-holiday pricing?! After the worst year for the S&P since 2008 and the fourth-worst year since the index’s launch in 1957, markets are on sale. And the only thing a well-timed investment should make fat is your spouse’s retirement account! Ask TAAG Wealth Management and Family Office about their recommended public equity investment fund which has provided annualized returns of 14.5% a year since 1993. Now that’s sweet!

Dinner Out?

Sure, a nice dinner out is always appreciated, but in the end, who’s treating whom? It’s not like we’re going to split the cheque. What you should be splitting is income, and one very easy and accessible way to do that is through a spousal RRSP. This allows the average family to “equalize” their registered assets before retirement, thus allowing for a more equal distribution of income during retirement which ultimately lowers the household’s overall tax bill. In addition to lower income tax, it may also allow your household to maximize government benefits in retirement. Check with TAAG Accounting to see if spousal RRSP contributions can improve your financial situation.  


Diamonds may be a partner’s best friend (the taxman recognizes common-law and same-sex relationships for the purposes of contributing to a spousal RRSP), but with a compound annual return of around 4% since 1960, they certainly don’t provide very impressive returns. Add a little bling to your partner’s portfolio with a carefully curated combination of alternative investments including low-volatility private REITs and generously yielding private credit investments. Contact TAAG Wealth Management for a full list of investment opportunities.

So, when considering how best to express your feelings for that special someone this Valentine’s Day, don’t just go with your heart, use your head. A well-coordinated contribution to a spousal RRSP paired with investments suitable to your personal financial circumstances should give you more than enough to treat that someone special to a little Godiva, Noma, or Cartier more than just once a year.

Dave MacMeekin

Financial Planner

TAAG Family Office

Published by TAAG Corporation

©TAAG Corporation 2023

Attribution-NoDerivatives 4.0 International (CC BY-ND 4.0)

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