RRSP contribution periods for recent tax years:
- 2024 tax year: March 1, 2024 - March 3, 2025
- 2023 tax year: March 2, 2023 - February 29, 2024
- 2022 tax year: March 2, 2022 - March 1, 2023
- 2021 tax year: March 2, 2021 - March 1, 2022
- 2020 tax year: March 3, 2020 - March 1, 2021
Claiming contributions made in the first 60 days of the year:
- Navigate to the RRSP Contributions & Deduction section in your profile
- For contributions made from January to early March of the current year, use the "Your RRSP: March - December 31, [current year]" option in the contribution table
- Enter the contribution amount in this row
Important notes:
- You can deduct these early contributions on your current year's return if you haven't already deducted them on the previous year's return
- If you reported these contributions on last year's return but didn't deduct them, enter them as "Unused contributions" in the RRSP Contributions & Deduction section instead
- The CRA's matching algorithm may only consider contributions made from March of the previous year to February of the current year, so they may request additional details
Note: Following these instructions may result in NETFILE error 2197.
Remember:
- You can choose to deduct your RRSP contributions in any year, as allowed by subsection 146(5) of the Income Tax Act
- Keep all RRSP contribution receipts for your records
If you need help locating the RRSP Contributions & Deduction section in Wealthsimple Tax, please contact Wealthsimple support. For questions about the timing of your RRSP deductions or their impact on your taxes, consider consulting with a tax expert.
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