The RRSP contribution deadline of March 1st is fast approaching!
If you plan on making an online contribution, February 24th is the last day the request can be submitted for the funds to be processed in time for the deadline. Unfortunately, we are unable to backdate contributions that are submitted after that. If you need help completing your online contribution please contact us directly.
The maximum contribution room for 2021 is 18% of your 2021 earned income, or $29,210 (whichever is less). However, there may be other factors that affect your contribution room, such as unused contribution room from prior years.
If you are wondering how much you can contribute to your RRSP, you can determine this by checking your latest Notice of Assessment, logging on to your Canada Revenue Agency My Account, or talking with your accountant
As always, we are here to help so please don’t hesitate to reach out if you have any questions.