What factors determine your maximum RRSP contribution? 

Generally speaking, the maximum RRSP contribution is the lesser of 18% of the income you earned in the previous year, and the contribution limit of $25,370 (for 2016). This maximum contribution amount might be reduced if you participated in a pension plan or a deferred profit sharing plan through an employer in the preceding year.

That said, unused RRSP contribution room from previous years can increase the maximum allowable contribution amount.

Income earned includes salaries and commissions, rental income and income from some other sources, but notably excludes investment income. 

What is the contribution deadline?

In order for your RRSP contribution to be eligible for the 2016 taxation year, the contribution deadline is March 1, 2017.

Important dates to remember

Which investments
qualify?

Several types of investments can be placed in an RRSP, including guaranteed investment certificates, stocks, and bonds.

What are your RRSP investment options

How can I reduce my investment tax obligations?

Many strategies can be used to reduce the taxes you pay on your investments.
 

Learn how to reduce your taxes now