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Rakhi Vasavada
Rakhi Vasavada , Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4420
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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I would like to find out options if possible to take Canadian

Resolved Question:

I would like to find out options if possible to take Canadian RRSP's and invest in property/land (group investments) or possibly of transferring RRSP's to invest in property group here in Australia. what would be the shortfalls. At present the RRSP's are just not earning a good rate of return
Submitted: 2 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 2 years ago.

Rakhi Vasavada :

Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

Rakhi Vasavada :

I am sorry to be the bearer of bad news. To invest in properties, you will have to liquidate your RRSPs and invest. Using RRSPs, you cannot directly invest in properties.

Rakhi Vasavada :

You can hold a mortgage on a property in your RSP but not the property itself. For a list of qualified investments that you can hold in your RSP, check out:

http://www.cra-arc.gc.ca/E/pub/tp/it320r3/it320r3-e.pdf

Rakhi Vasavada :

The above document, created in 2002, stands updated as of today.

Rakhi Vasavada :

So, to sum up, you cannot directly own properties. You can hold the mortgages. This would be within Canada and not outside as you want it.

Rakhi Vasavada :

I am sure this would help. You may please leave a positive rating if this helps as this ist the only way we get compensated for assisting you. Alternatively please feel free to reply back if you need further assistance.

Warm Regards,

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