The 2018 RRSP contribution deadline is rapidly approaching and the last day to make contributions is March 1, 2019. Why should you contribute to an RRSP? Contributing to an RRSP before March 1 lowers your 2018 taxable income and result in less income tax owing when you file your 2018 tax return. If you normally get a refund, a RRSP contribution can increase the size of your refund and if you generally owe tax, a contribution can help lower the amount owing.
Click above for a handy calculator to give you an estimate of tax you can save by making an RRSP contribution. If you’re not sure if you should contribute to an RRSP or how much to contribute, give us a call at 604-892-5131 to speak with one of our advisors.