RRSP loan

[kintrust]

As I know that interest from RRSP loan is not tax deductable.

 

[dkwan]

because RRSP loan is just a loan, but the loan is directly from loan insitution to the RRSP insitution and you never see the money.

Contribution loan, prime - 1.00%.
Interested? plz reply

 

[挺傻]

我想这里面说的有点误解，如果你借钱去CONTRIBUTE你的RRSP，是RRSP CATCH UP LOAN OR CREDIT,仅仅因为有RRSP 的ROOM存在，那你借的钱是不可以tax deductable的。
但是如果你用你的RRSP里面的GIC作为COLLATERAL，来从银行借钱，明确钱的用途是INVESTMENT,就可以tax deductable。可能上面没有说清楚，在此解释一下。

 

[kintrust]

最初由 挺傻 发布
我想这里面说的有点误解，如果你借钱去CONTRIBUTE你的RRSP，是RRSP CATCH UP LOAN OR CREDIT,仅仅因为有RRSP 的ROOM存在，那你借的钱是不可以tax deductable的。
但是如果你用你的RRSP里面的GIC作为COLLATERAL，来从银行借钱，明确钱的用途是INVESTMENT,就可以tax deductable。可能上面没有说清楚，在此解释一下。

Are you sure RRSP can be collateraled?

Thanks

 

[挺傻]

It really depends on individual status and FIs.Of course, RRSP in mutual funds, RRSP in self directed plan cannot be as a secured one. But some non-redemable GICs in RRSP may have opportunities to be as secure.
Some charter banks do not accept it.But as far as I know, some other FIs do accept it.