Once again, we are fast approaching the RRSP season deadline. Monday, March 2, 2015 is the last day you can make tax-efficient RRSP contributions for 2014.
This is a great opportunity for us to review your retirement investment strategy. Together, we can:
- Calculate your contribution limit. The maximum for 2014 is $24,270; but, if you did not use your entire RRSP contribution limit for the years 1991 to 2013, you can carry forward unused amounts to 2014. The RRSP contribution limit for 2013 was $23,820, and for 2015 is $24,930.
- Decide how much to contribute and how to set up regular, automatic payments to an RRSP if you haven’t already done so and are interested.
- Contribute to other tax-efficient plans such as a Tax-Free Savings Account (TFSA) or Registered Education Savings Plan (RESP).
Please contact our team should you have any questions regarding a last-minute contribution or your RRSP strategy moving forward.