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Posted Tue, 27 Aug 2024 10:47:52 GMT by Patrick Carter
Are the dividends and income earned inside of an RRSP (Registered Retirement Savings Plan in Canada) taxable in the years they are earned in the Plan or do we pay tax on them only as funds are withdrawn from the plan? For clarity, we have been showing the dividends as foreign income on our Self-Assessments even though we haven't taken any of the money as actual income. If this is incorrect, how many years can we go back to refile our taxes?
Posted Fri, 06 Sep 2024 11:15:51 GMT by HMRC Admin 20 Response
Hi,
It is when income is withdrawn from the plan.
You can go back to the 2020 tax year and will need to write in to claim overpayment relief -
SACM12150 - Overpayment relief: Form of claims
Thank you.

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