Background
The 2011 federal budget introduced new anti-avoidance rules for registered retirement savings plans (RRSP) similar to those already enacted for tax-free savings accounts (TFSA). This legislation, enacted on December 15, 2011, includes transitional relief for certain RRSP investments (and related income) that unexpectedly became prohibited investments because of the 2011 federal budget. Previously, the CRA said that taxpayers had until June 30, 2012 to file the forms.
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