Just a friendly reminder that Monday March 2, 2020 is the deadline to contribute to your Registered Retirement Savings Plan (RRSP) for the 2019 tax year. Typically, you have until the 60th day of the year to contribute to your RRSP, but because that falls on a weekend this year, the deadline is actually the next business day (Monday, March 2). This is the last day that you can contribute to your RRSP if you want to take advantage of deductions and increase your tax return this spring.
The amount you can contribute is 18% of your 2019 earned income, or $26,500, whichever is less, plus any unused contribution room from previous years.
Please contact us ASAP in order to get your contribution in so that you aren’t left scrambling on Monday.