Looking for someone to swap RRSP investments with

[TylerUzelman]

I am looking for someone who has 65K of RRSPs and also 65K of equity in a property they own. I am interested in investing 65K of my RRSPs with you on your property if you are interested in investing 65K of RRSP's on my property. I will walk you through all the paperwork to complete the transaction. For more information regarding this please message me. Thanks.

 

[tsokalski]

So essentially are you saying lets swap $65000 so we can have downpayment money for another property.. You get $65000, I get $65000 and we owe each other nothing? I would entertain the idea.

 

[Thomas Beyer]

[quote user=tsokalski]So essentially are you saying lets swap $65000 so we can have downpayment money for another property.. You get $65000, I get $65000 and we owe each other nothing? I would entertain the idea.


It has to be an arm's length transaction guys !!

 

[wgraham]

Also known as illegal

 

[alaas1977]

Hi guys



Please forgive me, but as long as they're not related to you, ie spouse, family or inlaws is this not considered to be arms length and therefore be allowable?



If I am incorrect I would appreciate a correction.

 

[moparcanuck]

Situations like this are always a question of fact, and if it were discovered that there was a required 'swap' of RRSP money like this, it would likely be considered offside. Not sure of the consequence, but seems likely it would then be considered an RRSP withdrawl and therefore taxable withdrawl.