Registered Retirement Savings Plan

2018-2019 Reference Guide

As each New Year begins, many investors have the opportunity to start making ongoing contributions to their Registered Retirement Savings Plan (RRSP), . To assist, we have developed this Reference Guide with important information including key dates, contribution limits and strategies.

The 2018 RRSP deadline is Wednesday, March 1, 2019.

This is a great opportunity for us to review your retirement investment strategy.

Together, we can:

  • Calculate your contribution limit. The maximum for 2018 is $26,230. For reference, your current allowable contribution limit can be found on your latest notice of assessment from the Canada Revenue Agency. The contribution limits for 2016 and 2017 were $25,370 and $26,010, respectively.
  • Unused contribution room for the years 1991 to 2017 is carried forward to 2018. For more information on your RRSP contributions and other registered retirement plans please follow these links:
    • My account
    • RRSPs and other registered retirement plans                                                                                                                                                                                               
  • Decide how much to contribute and how to set up regular, automatic payments to an RRSP if you haven’t already done so.
  • Contribute to other tax-efficient plans such as a Tax-Free Savings Account (TFSA) or Registered Education Savings Plan (RESP). The contribution limit for TFSAs in 2018 is $5,500.
  • Consider whether a US dollar registered account would benefit your circumstances. All registered plans are now available in USD with the exception of RESP accounts.

To make a tax deductible contribution, the contribution must be made within 60 days after December 31st. Contributions to be deducted against 2018 income will have to be made by Wednesday, March 1, 2019.

Click HERE to download our full RRSP user guide.