RRSP Contribution 2019

How much can I contribute to my own RRSPs for the year 2018?

The maximum RRSP contribution limit 2017 is $26,010. However, if you did not use all of your RRSP contribution limits for the years 1991-2018, you can carry forward the unused amounts, and make up your contributions in 2019.

The maximum RRSP contribution limit for subsequent years is as follows:

• 2019 maximum RRSP contribution limit: $26,500
• 2018 maximum RRSP contribution limit: $26,230
• 2017 maximum RRSP contribution limit:  $26,010
• 2016 maximum RRSP contribution limit: $25,370
• 2015 maximum RRSP contribution limit: $24,930

RRSP Deduction Limit 2018

The maximum RRSP deduction limit for subsequent years is as follows:

• 2018 maximum RRSP deduction limit: $26,230

RRSP Terms:

• RRSP contribution – This is the amount you pay, in cash or in kind, at the time you contribute to an RRSP.
• RRSP deduction – Refers to the amount you indicate on line 208 when you file your return.
• RRSP deduction limit – This refers to the maximum amount you can deduct from contributions you made to your RRSPs or to a spousal or common-law partner RRSP for a year. The calculation is based, in part, on your previous year earned income (excluding transfers to your RRSPs of certain types of qualifying income). Pension adjustments (PAs), past service pension adjustments (PSPAs), pension adjustment reversals (PARs), and your unused RRSP deduction room, are also used to calculate the limit.

The deadline for contributing to your RRSP and deducting the amount from your 2018 income is March 1^st, 2019.