- RRSP Maximum Annual Deduction Limit: 18% of the prior year’s earned income to a maximum of:
- $26,500 for 2019 – Contribution Deadline: March 2, 2020
- $27,230 for 2020 – Contribution Deadline: March 1, 2021
- Maximum Annual Contribution Limit for 2020: $6,000
- Maximum Contribution Limit Since Inception: $69,500 (from 2009-2020 if born in 1991 or earlier & resident of Canada during those years)
- Maximum Contributions: Lifetime limit of $50,000. There is no annual limit.
- Maximum Lifetime CESG limit: $7,200
- Contribution Deadline: December 31, 2020
Click here to review the Navigator article on financial planning facts for 2020. This document discusses contribution limits, federal tax brackets, personal tax deadlines and more.