In order for retiring allowances to be transferred to a Registered Retirement Savings Plan without payroll with-holding of taxes, the employee must have been with the company prior to 1996.

Question

Quizplus · Accepted Answer

Retiring allowances can be transferred to an RRSP without tax withholding if the employee's service period includes years before 1996, as per Canadian tax regulations.

In Order for Retiring Allowances to Be Transferred to a Registered