In order to assist with your 2021 and 2022 tax planning, we are pleased to provide you with the following information in connection with Registered Retirement Savings Plans (RRSP) and Tax-Free Savings Accounts (TFSA) as follows:
RRSP
- The maximum contribution limit for 2021 is $27,830.
- The deadline for 2021 contributions is March 1, 2022.
- Your contribution limit for 2021 is noted on your 2020 Notice of Assessment.
- The maximum contribution limit for 2022 is $29,210.
TFSA
- The contribution limit for 2022 is $6,000.
- The cumulative contribution limit from 2009 to 2022 is $81,500.
The rules regarding RRSP and TFSA contributions can be complex.
Please contact your Lipton LLP advisor if you would like to discuss your particular situation further.