Consolidating spousal rrsp
Specifically, the request for a technical interpretation looked at the following series of transactions, which seemed to pose a problem In the technical interpretation, the Canada Revenue Agency specifies that, when a person makes a gift to a spouse and the spouse uses this gift to make a contribution to a TFSA of which they are the holder, the CRA is of the opinion that it is the TFSA holder who made the contribution.
Thus, the guidance set out in the RC4466 is still relevant.
It is recommended to first transfer funds necessary for a contribution to the TFSA of a spouse to the bank account of the latter, so as to avoid any ambiguity as to the identity of the person making the contribution. To find the ideal way to do so, please contact your legal advisor.
Canada Revenue Agency, 2015-0569601E5 – Contribution to a TFSA, February 26 2015.
If you have enough money to build both a registered and non-registered portfolio, then investments such as bonds, GICs and high-interest savings accounts are best kept inside of an RRSP, because their interest income is taxed at a higher rate.
You can even hold several different RRSP accounts with different institutions.Such an event would also have further tax repercussions.