February 6, 2013
We have been advised that some members have directed BCE to make direct RRSP deposits with their surplus payments. BCE has told us that it is working on the payments and will try to get them out before the end of February. However, as advised in the February 5 posting below, BCE may not be able to do so in all cases. Surplus payments that are directly deposited into an RRSP after February 28, 2013 may be eligible for tax deductibility on the member’s tax return for the 2013 tax year; direct deposits to an RRSP on or before February 28, 2013 may be eligible for tax deductibility on the member’s tax return for the 2012 or the 2013 tax year. You should consult with a financial advisor if you have further questions about the tax treatment of your surplus payment.