RRSP Contribution Time

January 16, 2012

by Jared Cross, C.P.A, C.G.A

Another year has drawn to a close and it is time to start thinking about your RRSP contributions for the tax year. Your contribution room is determined by your earned income in the previous year plus any carry forward room you might have available.

February 29, 2012, is the deadline for contributing to an RRSP for the 2011 tax year .

If you need help figuring out how much room you have or how much you should contribute please don’t hesitate to contact our office.

For more information you can refer to the Canada Revenue Agency’s information report. It also includes information on RESPs, RPPs and RRIFs. Or you can go to the CRA website’s RRSP topics page.

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