CRA issued a taxpayer alert warning taxpayers to be wary
of offshore investment schemes or tax shelter arrangements
which claim that the income from such schemes will not be
taxable. Some of these schemes claim that taxpayers
can withdraw funds tax-free from RRSPs. See our
tax is deducted from RRIF or RRSP withdrawals?"
on the RRSP page. Potential investors should read the CRA taxpayer
alert from 2007, and get professional tax and/or legal advice
before putting money into investments which make these
If you want to see how you can shelter your RRSP withdrawals
to save tax, see our article Get your money
out of RRSPs tax-free (sort of).
Tax Tip: Get
INDEPENDENT advice from a tax professional before investing
in tax-saving "schemes".
Revised: February 19, 2014