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RRSP

RRSP contribution deadline is fast approaching.

 

Important points to remember:

 

1. The date for final contributions is March 1, 2013.

 

2. The maximum allowable contribution for 2012 is the lesser of $22,970 or 18% of earned income, less pension adjustment. The limit for 2013 is $23,820.

 

If you are unsure of your personal allowable contribution for the current period, you can contact the Canada Revenue Agency (CRA) through an automated phone system at 1-800-267-6999. You must have your Social Insurance Number and line 150 from last year's tax return available. Or, check your notice of assessment on your previous year's tax return.

 

If you are interested in learning more or have additional RRSP questions, please visit the CRA website or feel free to contact us.

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