RRSP Contribution Deadline for 2019

January 10, 2020 | Thomas De Mello


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The RRSP contribution deadline for the 2019 tax year is March 1, 2020. Your contribution limit for 2019 is 18% of your 2018 earned income, to a maximum of $26,500, with certain adjustments (e.g. less any Pension Adjustment appearing on your 2018 T4 tax slip and plus any unused contribution room carried forward from previous years).

For your exact contribution limit, check your latest Notice of Assessment, Notice of Reassessment or T1028 form, or log on to your Canada Revenue Agency account at http://www.cra-arc.gc.ca/myaccount.

You can also make your 2020 contribution any time starting January 1, 2020 to benefit from additional tax-deferred compounding. The maximum RRSP contribution room you can earn for 2020 is 18% of 2019 earned income up to a maximum of $27,230.

In addition to helping with your RRSP contributions, we would also be pleased to assist with any non-RRSP investments you may not currently hold with us. Consolidating your RRSP and non-RRSP investments can help simplify your finances, while potentially reducing costs. Please feel free to contact us anytime to arrange a portfolio proposal for consolidating your RRSP and non-RRSP assets.

Sincerely,

Thomas de Mello