RRSP contributions

Preparing for life after work. RRSPs, RRIFs, TFSAs, annuities and meeting future financial and psychological needs.
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D&NBur
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RRSP contributions

Post by D&NBur » 03 Jun 2017 18:36

At completion of 2016 taxes in Mar 2017, there was available contribution space noted based on last year's earning. I retired unexpectedly in May 2017. Can the contribution be made and applied to 2017 taxes despite no earned income in 2017?

twa2w
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Re: RRSP contributions

Post by twa2w » 03 Jun 2017 18:52

Yes but if you have little income it may make sense to use it in another year or spread it out over a couple of years.

brucecohen
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Re: RRSP contributions

Post by brucecohen » 03 Jun 2017 21:33

twa2w wrote:
03 Jun 2017 18:52
Yes but if you have little income it may make sense to use it in another year or spread it out over a couple of years.
Or make the contribution this year and on Schedule 7 delay claiming the deduction for use in a future year or years.

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