Registered Retirement Savings Plan deduction limit (RRSP deduction limit)

Definition

The maximum contribution a Canadian tax payer makes towards their registered retirement savings plan (RRSP). The deduction limit is subject to the maximum contribution, unused deduction limit of the preceding year, the various pension adjustments and pension adjustment reversal. The calculated deduction limit is given to the tax payer through yearly notice of assessment. Note that the RRSP contribution is less than the deduction limit.
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Registered Retirement Savings Plan contribution (RRSP contribution) Registered Retirement Savings Plan deduction (RRSP deduction)