October 2, 2006 by Dan White.

What happens to my RRSP if I die? When you die, the value of the funds in your RRSP will be included in your income and will be taxed when your final tax return is filed. However, if you have a surviving spouse, the RRSP may be rolled over tax-free to the survivor, who then becomes the annuitant, or holder, of the RRSP. This provision can also apply to a common-law partner. A tax-free rollover may also be made to a dependent child or grandchild, who may use the funds to purchase an annuity with a term not exceeding 18 years, minus the age of the child.

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October 2, 2006 by Dan White.

If I work outside Canada, can I still contribute to my RRSP? If you work outside Canada, you may continue contributing to your RRSP only if your earnings are considered earned income in Canada. You may want to contact your local taxation office to clarify your situation.

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October 2, 2006 by Dan White.

What happens to my RRSP if I become bankrupt? If you go bankrupt, creditors can seize your RRSP. An insurance company RRSP with a named beneficiary may be creditor-proof, but not if you open the plan with the intention of avoiding your creditors. If this is an issue for you, you may want to seek professional advice. Creditors can legally seize your RRSP.

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October 2, 2006 by Dan White.

What happens to my RRSP if I leave Canada and become a non-resident? If you leave the country and become a non-resident, you can leave your RRSP in place, but you will not be eligible to make further contributions unless you have earned income in Canada. CCRA’s Pension and RRSP Tax Guide explains how to calculate earned income if you are a non-resident. If you become a resident of the U.S., amounts earned by your RRSP investments after you leave the country may be subject to U.S. income tax. If decide to cash in your RRSP after you have become a resident of another country, 25 per cent of the proceeds will be withheld in Canada.

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October 2, 2006 by Dan White.

The correct way to come home drunk
Two married buddies are out drinking one night, when one turns to the
other and says,
“You know, I don’t know what else to do. Whenever I go
home after we’ve been out drinking, I turn the headlights off before I
get to the driveway. I shut off the engine and coast into the garage.
Take my shoes off before I go into the house, I sneak up the stairs,
get undressed in the bathroom, stick my foot in the toilet and pee
down my leg to prevent splashing sounds. I ease into bed and my wife
STILL wakes up, and yells at me for staying out so late!”

His buddy looks at him and says
“Well, you’re obviously taking the wrong approach.
I screech into the driveway, slam the door, storm up
the steps, pee hard into the toilet water, then use the full flush,
throw my shoes in the closet, undress in the bedroom, then jump into
bed, slap her on the ass and say, ‘WHO’S WANTS TO MAKE MAD PASSIONATE DRUNKEN LOVE????!!!’ and
………….she acts like she’s sound asleep!

It Works Every Time!”

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