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Blog Post

13
JAN
2022

Tax Planning Update – RRSP/TFSA

In order to assist with your 2021 and 2022 tax planning, we are pleased to provide you with the following information in connection with Registered Retirement Savings Plans (RRSP) and Tax-Free Savings Accounts (TFSA) as follows:

RRSP

  • The maximum contribution limit for 2021 is $27,830.
  • The deadline for 2021 contributions is March 1, 2022.
  • Your contribution limit for 2021 is noted on your 2020 Notice of Assessment.
  • The maximum contribution limit for 2022 is $29,210.

TFSA

  • The contribution limit for 2022 is $6,000.
  • The cumulative contribution limit from 2009 to 2022 is $81,500.

The rules regarding RRSP and TFSA contributions can be complex. 

Please contact your Lipton LLP advisor if you would like to discuss your particular situation further.

comment : 1
  1. Mona Reply

    This is great! Thank you so much for the updated information Lipton LLP!

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