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Government Passes Stricter Rules for RRSPS

December-21-2011

Area Tax

Summary

As part of the 2011 federal budget, the Minister of Finance (Canada) modified the rules applicable to the taxation of registered retirement savings plans (“RRSPs”) (the new rules also apply to registered retirement income funds). Bill C-13 received Royal Assent on December 16, 2011, and these amendments generally are effective as of March 23, 2011.

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