Can I transfer my retiring allowance into my RRSP?

Gena Katz, a chartered accountant and principal with Ernst and Young, has the answer.

Gena Katz 23 June, 2003 | 1:00PM
Dear Expert:

I will retire later this year. My retiring allowance will be $10,000 but I have no room in my RRSP to make contributions for 2003 or 2004. Can I still transfer my retiring allowance to my RRSP, or do I have to pay income taxes of these funds?

Expert Answer:

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Gena Katz

Gena Katz  

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