Questions and Answers about Minimum Amount Changes for 2008 from a RRIF

What is the status of the changes that permit an individual, who received the 2008 unreduced minimum amount, to re-contribute up to 25% of that amount to their RRIF?

If I was paid the 2008 unreduced minimum amount and have not yet made my 25% deductible re-contribution, what is the deadline for doing so?

I became the annuitant of my RRIF in 2008 after the death of my spouse or common-law partner and I was paid the 2008 unreduced minimum amount. Can I make the 25% deducible re-contribution to either my RRIF or my RRSP?

If I was paid the 2008 unreduced minimum amount and make my 25% re-contribution to my RRIF, how do I report the income and claim the deduction on my 2008 income tax return?

If I was paid the 2008 unreduced minimum amount and make my 25% re-contribution to my RRSP, how do I report the income and claim the deduction on my 2008 income tax return?

What is the status of the changes that permit an individual, who received the 2008 unreduced minimum amount, to re-contribute up to 25% of that amount to their RRIF?

The changes were included in Bill C- 10, Budget implementation Act, 2009, which was enacted by Parliament on March 12, 2009.

If I was paid the 2008 unreduced minimum amount, what was the deadline for making the re-contribution?

You had to make your deductible re-contribution by April 14, 2009.

I became the annuitant of my RRIF in 2008 after the death of my spouse or common-law partner and I was paid the 2008 unreduced minimum amount. Was I eligible to make the 25% deducible re-contribution to either my RRIF or my RRSP?

No. The deduction for the re-contribution only applied if you were the annuitant of the RRIF at the beginning of 2008.

If I was paid the 2008 unreduced minimum amount and made my 25% re-contribution to my RRIF, how do I report the income and claim the deduction on my 2008 income tax return?

Your financial institution should have provided you with a 2008 T4RIF slip that reported the unreduced minimum amount in box 16 of the slip. Report this amount on line 115 of your 2008 income tax return if you were 65 or older on December 31, 2008. Otherwise, report the amount on line 130 of your income tax return.
Your financial institution should also provided you with a RRIF receipt for the amount that you re-contributed to your RRIF. You should deduct the amount you re-contributed on line 232 of your 2008 income tax return.

If I was paid the 2008 unreduced minimum amount and made my 25% re-contribution to my RRSP, how do I report the income and claim the deduction on my 2008 income tax return?

Your financial institution should provided you with a 2008 T4RIF slip that reported the unreduced minimum amount in box 16 of the slip. Report this amount on line 115 of your 2008 income tax return if you were 65 or older on December 31, 2008.  Otherwise, report the amount on line 130 of your income tax return.
Your financial institution should have also provided you with an official RRSP receipt for the amount that you contributed to your RRSP.  You have to complete your 2008 Schedule 7, which is included with your 2008 return.  Remember to record the amount you contribute to your RRSP on lines 245 and 240 of that Schedule.  You should deduct the amount on line 208 of your 2008 income tax return.