Savings & Investments

Tax Tip: Can I Claim a Capital Loss on My RRSP?

Overview

Money you invest in an RRSP grows tax deferred until you withdraw it. You receive a tax deduction for any funds you contribute to the plan. Any growth on the investment within the RRSP is taxed as income. However, if there is a loss on the investment, the Canada Revenue Agency does not allow you to treat it as a capital loss against your RRSP. It is simply a loss and can’t be deducted.

Key Concepts

  • RRSP deduction amount
  • capital loss gain
  • claim against investment