2017 Tax receipts, RRSP Contribution and Personal Income tax Filing Deadlines, TFSA's

Feb 23, 2018 | Elyse Clements


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RRSP Deadlines and Tax package information

While the deadline for RRSP contributions is soon upon us (March 1, 2018), you still have time to make some last minute contributions.

Your 2017 contribution room is 18% of your 2016 earned income to a maximum of $26,010 (minus any pension adjustments on your 2016 T4 tax slip)

Your Notice of Assessment can confirm your RRSP contribution room, or you can view the info on the CRA website portal once you have set yourself up on their site.     Click here for CRA portal

Please get in touch with us if you would like to make a contribution.

Your RBC Tax packages and mailing dates

  • For Registered accounts, T4RIF, T4RSP, T4A and NR4 mailings were sent Feb 13th
  • Contribution receipts for all contributions made prior to Jan 26th, have been mailed out.
  • Contributions made after Jan 29th will be mailed out weekly.
  • For Non-Registered accounts, the T5 Tax packages were mailed around February 14th.
  • T3 packages for Income Trusts or RBC Private pools may not arrive before April.

The last page of your T5 tax package may show additional slips that you might receive which are not part of the RBC tax package. We strongly encourage you to wait for all of your slips prior to filing your T1.

For more in depth information click here > Client Guide to detailed tax reporting

We are of course here to help if you have questions about these tax slips.

TFSA contributions

TFSA contribution room for 2018 is now available up to $5,500. If you haven’t opened your TFSA account yet, you can also make contributions for the years 2009-2017, for a total contribution of $57,500.

A TFSA is a great way to earn tax-free interest, dividends and capital gains. Withdrawals are tax free and can be made at any time. As a plus, any amounts withdrawn are added back to the next year’s available contribution room.

We would be pleased to assist you or any of your family members with their TFSA contributions.

 

All the best,

Elyse

Categories

Tax Planning