RRSP Deadline - 2024 tax year
· Deadline for contributing to an RRSP for the
2024 tax year is March 1, 2025. For example, to make contributions for the 2024
tax year, you would need to do so by March 1, 2025. Note: You can also specify
that a contribution made in 2025 before March 1 is for the 2025 tax year.
· December 31 of the year you turn 71 years of age
is the last day you can contribute to your own RRSP.
Your annual RRSP contribution limit is the amount you are
able to contribute to your RRSP each year. Contribution room is the
lesser of:
· 18% of your previous year’s pre-tax
earnings, OR
· The yearly maximum set by the CRA.
· PLUS any unused RRSP deduction room
from previous years (which carries forward indefinitely).
You can find your RRSP deduction limit on your latest
notice of assessment or notice of reassessment from the CRA.