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Explain the tax consequences of the transfer

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Question: Liz and Richard have ended their marriage and are now living apart. They have sold their house and divided the proceeds, but they now need to deal the Richards RRSP. They have agreed that Richard needs to transfer $100,000 from his RRSP to Liz as part of the equalization payment. They would like you to explain the tax consequences of this transfer.

Reference no: EM132760408

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