RRSP, Savings & Investments

Tax Tip: Am I Able to Claim A Capital Loss on My RRSP?

The money you invest in a Registered Retirement Savings Plan (RRSP) grows tax-deferred until you withdraw it.

You receive a tax deduction (so you pay less income tax) for any funds you contribute to your or your spousal/common-law partner’s retirement registered plan.

The contributions and any growth on the investment within the RRSP are taxed as income when you withdraw money or receive retirement annuity from this plan.

Any losses on the investment within the RRSP are not able to be claimed as a capital loss against your RRSP.

The Canada Revenue Agency (CRA) views it as a loss that cannot be deducted.