In order to assist with your 2024 and 2025 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
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- The maximum contribution limit for 2024 is $31,560.
- The deadline for 2024 contributions is March 3, 2025.
- Your contribution limit for 2024 is noted on your 2023 Notice of Assessment.
- The maximum contribution limit for 2025 is $32,490.
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TFSA
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- The contribution limit for 2025 is $7,000.
- The cumulative contribution limit from 2009 to 2025 is $102,000.
The rules regarding RRSP and TFSA contributions can be complex.
Please contact your Lipton LLP advisor if you would like to discuss your specific situation.
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