Services Chartered Professional Accountant

The maximum contribution for 2017

You have 60 days after calendar year to make a RRSP contribution for the previous taxation year. 

The maximum contribution for 2017

• the lesser of $26,010 or
• 18% of earned revenue in the taxation year
• Less: taxation year Pension Adjustment (appears on the T4)
• Plus unused RRSP deduction room from previous years

T.I.P.S.

T.I.P.S. (Telephone Information Phone Service) can give you your RRSP deduction limit. You can reach T.I.P.S. toll-free at 1-800-267-6999 or visit them on their website at T.I.P.S.

To use this service you will need your social insurance number, your birth date and the amount entered on line 150 of your tax return. 

RRSP contributions not deducted in the current year can be carried forward indefinitely. If you 
have used or are planning to use the RRSP Home Buyer's Plan, you cannot deduct any RRSP 
contributions made less than 90 days before the withdrawal.