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RRSP Deadline 2012

RRSP Deadline 2012 for 2011 RRSP Contribution

RRSP Contribution Deadline for 2011 Tax Year: February 29, 2012

Your RRSP deadline for contributing to your RRSP for the 2011 tax year has to be before February 29, 2012.

The maximum RRSP contribution limit for 2011 is $22,450. However, if you did not use all of your RRSP contribution limit for the years 1991-2009, you can carry forward the unused amount to 2011. Therefore, your RRSP contribution limit for 2011 may be more than $22,450.

2011 maximum RRSP contribution limit: $22,450

A Registered Retirement Savings Plan (RRSP) is a retirement investment plan registered with the government to which you or your spouse can contribute through RRSP-eligible investments, such as some stocks and mutual funds. For information on what investments are RRSP eligible, please contact a financial advisor and/or your financial institution.

Deductible RRSP contributions can be used as a means to reduce your taxes. Amounts earned in the RRSP investment is usually exempt from tax for the time the funds remain in the plan. When you cash in or receive payments from the plan (typically at retirement) you will then pay tax on those amounts.