Quote:
Originally Posted by badbrass
Just a little tidbit! Just going through this with a passing of a family member!
If you and your spouse were in a car wreck, and both killed. The government
takes 48% right off the top of your RRSP's!
No Questions asked. Then the rest is split in the estate.
I will be getting rid of my RRSP's Before anything else
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Well its not quite like that as taxes are paid on a graded schedule but if someone earns over $300,000 in a year everything over $303,900 would be taxed at 48%.