Wealth InSight

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Taxation

The $500 RRSP Mistake That Could Cost You Monthly—And How to Fix It Smartly

Why shifting to a spousal RRSP doesn’t undo an overcontribution

Consultant Manpreet's avatar
Consultant Manpreet
Apr 21, 2026
∙ Paid

A taxpayer (wife) has contributed $500 more than her available RRSP contribution room in February 2026. Now, as April approaches, there is concern about penalties imposed by the Canada Revenue Agency…

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