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Calculation of RRSP Deduction Limit

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					                    Calculation of RRSP Deduction Limit
Use Your Figures for the Prior Year:

Total employment earnings*                              $

Minus:
Union or professional dues claimed          $
Employment expenses claimed                 (           )(     )$

Plus:
C.P.P. disability benefits
Net income from self-employment
Net rental income from real estate
Taxable alimony or maintenance payments received
Royalties of an author or inventor
Net research grants received
Subtotal

Minus:
Current year loss from self-employment
Current year rental loss from real estate
Deductible alimony or maintenance payments paid

YOUR EARNED INCOME FOR PRIOR YEAR                              $

MAXIMUM RRSP DEDUCTION BASED ON EARNED INCOME
Lesser of 18% of above earned income or
Maximum amount for current year (see RRSP FAQ Section under
maximum deduction for the year)**                              $
Minus:
Your pension adjustment (PA) and net past service
pension adjustment (PSPA) (see RRSP FAQ Section under
maximum deduction for the year)                                 (   )

Plus:
Your pension adjustment reversal (PAR) (see RRSP FAQ Section
under maximum deduction for the year)                          $

YOUR RRSP DEDUCTION LIMIT FOR CURRENT YEAR                     $




NOTES TO FOLLOW ON NEXT PAGE
NOTES:
  1. The above DEDUCTION LIMIT can be contributed to your own RRSP
     or to an RRSP for your spouse or common law partner.
  2. It includes RRSP contributions made on your behalf by an employer.
  3. It does not include special transfers to your RRSP.

*Including taxable wage loss replacement or long-term disability income resulting from
employment, but excluding Employment Insurance or Worker’s Compensation payments.
**Subject to change at any time based on CRA regulation.

				
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posted:2/16/2011
language:English
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