RSP Contributions
Registered Retirement Savings Plan (RRSP) is a legal trust that helps clients save for retirement. They are tax sheltered and contributors are able to deduct contributions against their income.
RRSP contributions made in a year or within 60 days after year-end (typically by March 1st or February 29th in a leap year) are tax deductible for that year. Contributions must be made by this deadline in order for an official contribution receipt to be issued and applicable for the prior tax year.
2024 RSP Contribution deadline is on March 3, 2025 and the maximum annual deduction limit for 2024 is $31,560.
To confirm your RSP contribution room you can look on your CRA account, Notice of Assessment, or ask your accountant.
To make your RSP Contribution please contact us.