We both maxed out RRSP, TFSA. Each has 3.3% HISA at Laurentian Bank. We don't want deposit over $100 K, CDIC's coverage. No other CDIC institution pays 3.3%. We open a joint HISA — 2 below — and only I deposit into it, my spouse deposits nothing.

  1. Who pays tax? How much?

  2. Will CRA apprehend this isn't truly a "joint" account, because only I deposited? CRA punish us?

If I have 400k, how do get CDIC coverage on all of it? : PersonalFinanceCanada

I'm going to disagree with what other people have said. I'm looking at a CDIC handout that CIBC provided me with my GIC purchase. You are insured for:

  1. $100K in your name only (Non-Registered)
  2. $100K in a joint account (Non-Registered); and that is the joint total, NOT per person
  3. $100K for funds held in Trust
  4. $100K in a TFSA
  5. $100K in a RRSP
  6. $100K in a RRIF
  7. $100K for Property Taxes (if the Bank pays your Property Taxes on your Mortgage)

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