RRSP Over-Contributions (Excess Contributions) | RRSP Withdrawals

RRSP Over-Contributions Penalty / Excess Contributions
You are subject to a penalty of 1% per month on the portion of your RRSP contribution that exceeds your lifetime over-contribution limit of $2,000. The $2,000 is reduced when you have a negative RRSP deduction limit which may be due to a Past Service Pension Adjustment (PSPA) amount. Also, you can only qualify for the additional $2,000 amount if you were 19 or older than 19.

RRSP Contribution Limit 2014, 2015 & 2016 | RRSP Deduction Limit

RRSP Contribution Limit 2014 | Find out 2015 RRSP Contribution Limit
The maximum RRSP contribution limit for 2014 is $24,270 (comparing to the last year, 2013, $450 of RRSP limit has been increased for the year 2014) . However, if you did not use all of your RRSP contribution limit for the years 1991-2013, you can carry forward the unused amount to 2014. Therefore, your RRSP contribution limit for 2014 may be more than $24,270.

Income Tax Deadline 2014 for the year 2013

Tax Deadlines 2014 for the year 2013 | Canadian Income Tax Deadline

There are a number of tax deadline dates during the year 2014 when returns are due to be filed or payments are due to be paid as follows.

Tax Return Filing Deadline for Personal Income Tax: Generally, your tax return for the Year 2013 has to be filled on or before April 30, 2014.

Canadian Tax Deadline 2015 for the year 2014

Canadian Tax Deadlines 2015 for the year 2014 | Income Tax Deadline

There are a number of tax deadline dates during the year 2015 when returns are due to be filed or payments are due to be paid as follows.

Tax Return Filing Deadline for Individual Income Tax: Generally, your tax return for the Year 2014 has to be filled on or before April 30, 2015.

Canadian Tax Brackets 2014 | Income Tax Brackets

Canadian Tax Brackets 2014 – Canada Federal Personal Income Tax Brackets Below (Provincial Income Tax Rates are not included):

See Canadian Tax Brackets for the Year 2015.

  • 15% on the first $43,953 of taxable income
  • 22% on the next $43,954 of taxable income (on the portion of taxable income between $43,954 and $87,907)
  • 26%on the next $48,363 of taxable income (on the portion of taxable income between $87,908 and $136,270)
  • 29% of taxable income over $136,270

Ontario Income Tax Calculator | ON





First, you can calculate your income tax combined federal and provincial tax bill in Ontario by entering your annual income.


And then you can estimate your tax refund by entering your taxes paid, RRSP contributions and capital gains for the year 2015.


Please enter your income taxes that are automatically taken out of your paychecks.


If you’ve made your RRSP contribution for the year 2015 or 2016, you can enter them here.

Please enter other Income such as Investments

Please note that our Ontario Income Tax Calculator will give you a basic idea about how much tax you should pay for the year 2015 – 2016 and how much of your tax refund you should expect. They are not guaranteed to be accurate. These for informational purposes only! Also, this ON income tax refund calculator doesn’t reflect any CPP and EI deductions or contributions.













British Columbia Income Tax Calculator | BC





First, you can calculate your income tax combined federal and provincial tax bill in British Columbia by entering your annual income.


And then you can estimate your tax refund by entering your taxes paid, RRSP contributions and capital gains for the year 2015.


Please enter your income taxes that are automatically taken out of your paychecks.


If you’ve made your RRSP contribution for the year 2015 or 2016, you can enter them here.

Please enter other Income such as Investments

Please note that our BC Income Tax Calculator Canada will give you a basic idea about how much tax you should pay for the year 2015 – 2016 and how much of your tax refund you should expect. They are not guaranteed to be accurate. These for informational purposes only! Also, BC income tax refund calculator doesn’t reflect any CPP and EI deductions or contributions.













Québec Income Tax Calculator | QC





First, you can calculate your income tax combined federal and provincial tax bill in Québec by entering your annual income.


And then you can estimate your tax refund by entering your taxes paid, RRSP contributions and capital gains for the year 2015.


Please enter your income taxes that are automatically taken out of your paychecks.


If you’ve made your RRSP contribution for the year 2015 or 2016, you can enter them here.

Please enter other Income such as Investments

Please note that our Québec Income Tax Calculator will give you a basic idea about how much tax you should pay for the year 2015 – 2016 and how much of your tax refund you should expect. They are not guaranteed to be accurate. These for informational purposes only! Also, this QC income tax refund calculator doesn’t reflect any CPP and EI deductions or contributions.