Weekly Tax Tips
Can I Carry Forward My Unused RRSP Contribution Room to a Future Year?
18 Dec 2009
If you don't make an RRSP contribution for 2009 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 CRA 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 entitled Answering Your RRSP Questions.
This tax tip is a publication of BDO Dunwoody 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 18 Dec 2009.
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