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Photos from Northly London's post 04/22/2026
03/20/2026

We are truly honoured to support the incredible work of London Abused Women’s Centre through this meaningful event.

At MultiTaxServices, we believe that strong communities are built by uplifting and protecting those who need it most. Being part of an initiative that empowers and supports women in our community is something we deeply value.

We extend our heartfelt appreciation to the team at LAWC for the vital work they continue to do every day.

Together, we stand for support, safety, and strength. 🤍

If you’re married or in a common-law relationship, your RRSP strategy should never be individual — it should be planned as a couple.

Here’s why.

RRSPs are not just about saving tax today. They’re about controlling how you’ll be taxed in retirement.

If one spouse earns significantly more, they’re usually in a higher tax bracket. That means RRSP contributions from the higher-income spouse create bigger tax savings.

But here’s the smart move most couples miss:
A Spousal RRSP.

With a spousal RRSP, the higher-income spouse makes the contribution and gets the tax deduction. However, the money goes into an RRSP under the lower-income spouse’s name.

Why is that powerful?

Because in retirement, withdrawals will be taxed in the lower-income spouse’s hands. This helps balance retirement income between both partners — and balanced income usually means lower overall tax.

For example, it’s better for a couple to retire earning $70,000 each than one earning $120,000 and the other earning $20,000. The total household tax bill is often much lower when income is split more evenly.

One important note: there’s a 3-year attribution rule. If money is withdrawn too soon after contributing to a spousal RRSP, it may still be taxed back to the contributing spouse. So this strategy requires planning — not last-minute decisions.

The key takeaway?

RRSP planning for couples is about coordination, tax brackets, and long-term strategy — not just “who has room to contribute.”

If you and your partner haven’t reviewed your RRSP plan together, it may be time to do it before the year ends.

#rrsp #taxtips #taxseason #refundseason #taxplanning 02/28/2026

https://www.instagram.com/reel/DVT3YSZkTp7/?igsh=YTk1bTZxNmxwYXZh

If you’re married or in a common-law relationship, your RRSP strategy should never be individual — it should be planned as a couple. Here’s why. RRSPs are not just about saving tax today. They’re about controlling how you’ll be taxed in retirement. If one spouse earns significantly more, they’re usually in a higher tax bracket. That means RRSP contributions from the higher-income spouse create bigger tax savings. But here’s the smart move most couples miss: A Spousal RRSP. With a spousal RRSP, the higher-income spouse makes the contribution and gets the tax deduction. However, the money goes into an RRSP under the lower-income spouse’s name. Why is that powerful? Because in retirement, withdrawals will be taxed in the lower-income spouse’s hands. This helps balance retirement income between both partners — and balanced income usually means lower overall tax. For example, it’s better for a couple to retire earning $70,000 each than one earning $120,000 and the other earning $20,000. The total household tax bill is often much lower when income is split more evenly. One important note: there’s a 3-year attribution rule. If money is withdrawn too soon after contributing to a spousal RRSP, it may still be taxed back to the contributing spouse. So this strategy requires planning — not last-minute decisions. The key takeaway? RRSP planning for couples is about coordination, tax brackets, and long-term strategy — not just “who has room to contribute.” If you and your partner haven’t reviewed your RRSP plan together, it may be time to do it before the year ends. #rrsp #taxtips #taxseason #refundseason #taxplanning

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