A spousal RRSP is registered in the name of your spouse or common-law partner. They own the investments in the RRSP, but you contribute to it. You get the tax deduction for any contributions you make to a spousal RRSP. Any contributions you make reduce your own RRSP deduction limit for the year. They won’t affect how much your spouse can contribute to their own RRSP.
Contributions to a spousal RRSP cannot exceed your RRSP deduction limit. We are not able to provide advice. Speak to a registered financial advisor to help you determine the best strategy for contributing to a spousal RRSP. Learn more about contributing to your spouse or common-law partner’s RRSP from the Canada Revenue Agency.