Weekly Tax Tips
Can I Carry Forward My Unused RRSP Contribution Room to a Future Year?
Date: 21 Jan 2011
If you don't make an RRSP contribution for 2010 or you contribute less than your maximum limit, the unused amount is carried forward and can be used in any future year. The carryforward rules began with the 1991 contribution limit. The RRSP contribution room that the Canada Revenue Agency shows on your Notice of Assessment includes all your unused room that carries forward from prior years.
For more information on RRSP's, read our tax bulletin titled Answering Your RRSP Question.
This tax tip is a publication of BDO Canada LLP on developments in the area of taxation. This material is general in nature and should not be relied upon to replace the requirement for specific professional advice. The information in this tax tip is current as of 21 Jan 2011.
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