Dear Expert:
Can a person who is receiving alimony contribute to an RRSP?
Expert Opinion:
RRSP contribution room is based on 18% of the prior year's "earned income". Earned income includes employment income, business income, rental income and other miscellaneous income sources, one of which is spousal support (formerly called "alimony").
Do you have a question?All Ask the Expert questions are read and considered. Unfortunately we can't provide individual responses or respond to every question. Please note that questions about specific securities cannot be considered. Click here to Ask the Expert.
No statement in this article should be construed as a recommendation to buy or sell securities or to provide investment advice or individual financial planning. Morningstar Canada does not provide specific portfolio advice and recommends the use of a qualified financial planner when appropriate.