What is a Spousal RRSP Contribution?

Definition of a Spousal RRSP Contribution: A situation in which a person makes a contribution to his or her spouse’s RRSP. The contributor uses his/her contribution room, and reports the contribution on his/her tax return, thus saving income tax at his/her rate. What is the advantage of a Spousal RRSP Contribution? A couple can maximize [...]