top of page
Search

RRSP contribution for 2017 taxes

Here are some rules regarding your RRSP contribution for the 2017 tax year.


  1. You can contribute to your RRSP until December 31 of the year you turn 71.

  2. The RRSP contribution limit for the 2017 tax year is $26,010.

  3. Your maximum contribution is as follows: 18% of your earned income for that year minus any contributions made to a company pension plan for that year.

  4. Earned income can include salary, alimony and rental income. Investment income is not considered earned income for the purpose of calculating the maximum RRSP contribution.

  5. You may add to your maximum contribution, any unused amounts from previous years as indicated on your 2016 Notice of Assessment.

  6. In the case of pension or deferred profit sharing, a pension adjustment ( PA ) will appear on your T4 slip. The PA must be deducted from your maximum contribution for that year. You can never start contributing to your RRSP too early for your retirement!


If in doubt, please contact me. I'll be happy to answer your questions. If you wish to borrow to contribute to your RRSP, I can get you excellent conditions.


NB: An RRSP capital can be used as a down payment when you buy your first house.

 
 
 

Recent Posts

See All
Bonds or GICs in 2023?

What is a bond? A bond is an investment in which you lend money to an entity for a entity for a set period of time, at a fixed rate of...

 
 
 
Insurance, a little-known concept!

Do you know the value of human life? Take a look at the little chart below. It assumed that you start work at 25, and retire at 65 and...

 
 
 
Breaches & security

For some time now, hacking of personal information seems to be on the increase in the financial sector: Desjardins, Groupe Cloutier,...

 
 
 

Commenti


© 2021 LGF Financial Group

Mutual funds are distributed through PEAK Investment Services Inc. and may be subject to commissions, trailing commissions, management fees and expenses. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The responsibility of PEAK Investment Services Inc. is limited to the products it distributes.

 

This site is intended for residents of Quebec.

MelissaLavigne_SolutionsWeb_Logo_Short_W
bottom of page