Tax Planning Update – RRSP/TFSA
In order to assist you with your 2017 and 2018 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 2017 is $26,010.
- The deadline for 2017 contributions is March 1, 2018.
- Your contribution limit for 2017 is noted on your 2016 Notice of Assessment.
- The maximum contribution limit for 2018 is $26,230.
TFSA
- The contribution limit for 2018 is $5,500.
- The cumulative contribution limit from 2009 to 2018 is $57,500.
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.
