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I checked but i dont think i fully understand this.
I moved from US to Canada last Sep 2018.
I have yet not filed my taxes for 2018
I have started contributing to my RRSP starting Jan 2019.
Earlier i thought its 18% max of my current income. But isnt this 18% of my income filed in 2018 taxes?
So my question is how can I calculate what is my max RRSP contribution limit for 2019?
I am yet to file my taxes but wanted to see how can I calculate this for now.
I just spoke to my HR department. They told me to take 18% of Box 14 value in my T4. That should be a good calculation for my RRSP limit.
Also, once we file taxes and I get my notice of assessment, it will show my total RRSP contribution limit for 2019.
Yes. In addition, for the 2019 RRSP contribution limit that is based on the 2018 tax year, the maximum amount you can contribute for the year is $26,500. This is applicable if your earned income is in excess of $147,222 or so.
You can find your exact figure on your CRA Notice of Assessment.
I just spoke to my HR department. They told me to take 18% of Box 14 value in my T4. That should be a good calculation for my RRSP limit.
Also, once we file taxes and I get my notice of assessment, it will show my total RRSP contribution limit for 2019.
Yes. In addition, for the 2019 RRSP contribution limit that is based on the 2018 tax year, the maximum amount you can contribute for the year is $26,500. This is applicable if your earned income is in excess of $147,222 or so.
You can find your exact figure on your CRA Notice of Assessment.
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