How To Find Out Your RSP And TFSA Contribution Room

Please note: If you are checking your contribution room in the first few months of a new year, the CRA will not be up-to-date for the previous year’s transactions. Therefore if you have made contributions or withdrawals in the current or previous calendar year, you may need to adjust for these until the CRA has updated these details (this is typically done in April each year). 

CRA Website - My Account for Individuals

1. Visit the CRA website My account for individuals

2. Although you can use Option 1, we recommend proceeding with Option 2 as the information will be more complete. Click on “CRA Login”, or “CRA Register” if this is your first time accessing.

3. After you log in you can scroll the main page until you see your RRSP and TFSA Room

4. Click "Go to RRSP and TFSA details"

5. Click “View TFSA details”

6. Click “Transaction Summary” and then "Next" to obtain your full TFSA contribution history

Contact CRA Directly - Tax Information Phone Service 1-800-267-6999

  • Call 1-800-267-6999
  • Press 1 (for English)
  • Press 5 (for registered accounts)
  • Press 3 (for TFSAs)
  • Press 1 (for room)
  • You will need your date of birth, SIN and Line 1500 (used to be line 150) from last year’s return on your Notice of Assessment.

August 2023  

     In this quarter's spotlight, we will be discussing the critical importance of having an up-to-date will and estate plan. It's a topic that is often overlooked but is essential for securing your assets and protecting your loved ones. It's essential to realize that life is ever-changing, and there are various events in your life that may necessitate updating your will and estate plan. For example, your marital status, the birth of a new child, a significant change in your financial or health status, and even moving to a new state can all be triggers for updating your will to ensure it reflects your current circumstances and wishes. Therefore, it's crucial to periodically review your estate plan and make necessary changes to ensure it aligns with your current situation. 

When should you review your Will or estate plan? 

Disclaimer. This information is not investment advice and should be used only in conjunction with a discussion with your RBC Dominion Securities Inc. Investment Advisor. This will ensure that your own circumstances have been considered properly and that action is taken on the latest available information. The information contained herein has been obtained from sources believed to be reliable at the time obtained but neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers can guarantee its accuracy or completeness. This report is not and under no circumstances is to be construed as an offer to sell or the solicitation of an offer to buy any securities. This report is furnished on the basis and understanding that neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers is to be under any responsibility or liability whatsoever in respect thereof. The inventories of RBC Dominion Securities Inc. may from time to time include securities mentioned herein. RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. ®Registered trademark of Royal Bank of Canada. Used under licence. RBC Dominion Securities is a registered trademark of Royal Bank of Canada. Used under licence. ©Copyright 2023. All rights reserved.

November 2023

As year-end approaches, taking some time to review your financial affairs may yield significant tax savings. To ensure that you leave no stone unturned, here is a summary of some common year-end tax planning strategies. 

 

Year-end tax planning strategies

                                                                                         

 

Disclaimer. This information is not investment advice and should be used only in conjunction with a discussion with your RBC Dominion Securities Inc. Investment Advisor. This will ensure that your own circumstances have been considered properly and that action is taken on the latest available information. The information contained herein has been obtained from sources believed to be reliable at the time obtained but neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers can guarantee its accuracy or completeness. This report is not and under no circumstances is to be construed as an offer to sell or the solicitation of an offer to buy any securities. This report is furnished on the basis and understanding that neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers is to be under any responsibility or liability whatsoever in respect thereof. The inventories of RBC Dominion Securities Inc. may from time to time include securities mentioned herein. RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. ®Registered trademark of Royal Bank of Canada. Used under licence. RBC Dominion Securities is a registered trademark of Royal Bank of Canada. Used under licence. ©Copyright 2023. All rights reserved

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