Quote:
Originally Posted by You Need a Thneed
I've always filed online, so I don't have to send the slips along, just have them on hand.
I don't know how far back I still have them on hand. I have the last 4-5 years probably.
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Well, the CCRA computers are pretty clever. They would get RSP contribution records from the bank so if you weren't on that tape, I would have thought you would have been smoked out long before this.
But you shouldn't be paying taxes on income earned inside an RSP.
The consequence for you is that you have been claiming deductions you didn't have and will have to have your taxes recalculated, with a balance likely owing. There may be a penalty of some sort as well based on the balance owing. It's a debate as to whether or not you turn yourself in with good faith or wait until or if they find out on their own.
Better dig in your boxes and see if you can find actual, genuine contribution slips.
If you can produce those, then you're looking good.
The fact the bank was sending you income slips, however, doesn't look good.
There's a contradiction here. You need to clear up those two things.
I would say, however, from your description, that you do not have an RSP.
That doesn't have to be a bad thing in the end either as it means you have a pile of tax-paid money - well, almost tax-paid!!!
Cowperson