In order to assist you with your 2014 and 2015 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 2014 is $24,270
- The deadline for 2014 contributions is March 2, 2015
- Your contribution limit for 2014 is noted on your 2013 Notice of Assessment
- The maximum contribution limit for 2015 is $24,930
TFSA
- The contribution limit for 2015 is $5,500
- The cumulative contribution limit in 2015 is $36,500
The rules regarding RRSP and TFSA contributions are not as simple as they may appear. Please contact your Lipton LLP advisor if you would like to discuss your particular situation further.
