Reminder that the deadline to contribute to your RRSP for the 2022 tax year is March 1st, 2023!
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It is Registered Retirement Savings Plan (RRSP) season once again! Beyond the importance of contributing to the RRSP to grow funds for retirement, avoiding certain practices can also help to save tax or create a bigger nest egg for the future.
Contribute — The deadline RRSP contributions for the 2021 tax year is Tuesday March 1, 2022. Contributions are limited to 18 percent of the previous year’s earned income, to a maximum of $27,830 for the 2021 tax year. Consider an automatic monthly contribution plan to avoid missing the deadline.