How much can I contribute to an RRSP?
There are contribution limits on RRSPs. To find out the exact amount you can contribute for the current year, check the most recent Notice of Assessment you received from the CRA.
As a guideline, your allowable RRSP contribution for the current year is the lower of:
- 18% of your earned income from the previous year
- The maximum annual contribution limit for the tax year
- The remaining limit after any company sponsored pension plan contributions
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