Registered Retirement Savings Plan deduction (RRSP deduction)

Definition

An amount determined by the Canadian Revenue Agency (CRA) that is deductible from a Canadian tax payer's earned income, serving as a contribution to their registered retirement savings plan (RRSP), reducing the payable income tax.
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Registered Retirement Savings Plan deduction limit (RRSP deduction limit) Registered Retirement Savings Plan (RRSP)