RRSP contributions

Brooks Financial Did You Forget to Record RRSP Contributions on Last Year's Income Tax Return? We Can Help!

Did You Forget to Record RRSP Contributions on Last Year’s Income Tax Return? We Can Help!

Canada Revenue Agency requires that all RRSP contributions be reported on Schedule 7 for the past calendar year, as well as any contributions made within the first 60 days of the current year. If you forgot to report, CRA will allow you to file an adjustment to record any RRSP …

Read moreDid You Forget to Record RRSP Contributions on Last Year’s Income Tax Return? We Can Help!

Top-Up RRSP Loan

The Top-up RRSP loan strategy is where you borrow a modest amount that is completely paid off within a year, before next year’s RRSP contribution deadline.   Example: You are in a 40% tax bracket and you have $3,000 available to contribute into your RRSP by the deadline date of …

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