This year the final official date for making RRSP deposits to be deducted in 2017 is March 1st.
You may recall this is a 60 day limit from the end of the calendar year.
For those with Manulife accounts you have until March 1st.
For those with Industrial Alliance Accounts we would need your cheques no later than Friday, February 19th.
These dates are very important. A missed date means a missed 2017 deduction.
Contributions are limited to your contribution room, which corresponds to 18% of the previous year's eligible earned income without exceeding the annual limit. The annual limit is $26,010 for 2017.
Plus you may have additional TOP UP left from Prior years.
TFSA: INCREASING AMOUNT.
For 2018 you can add an additional $5,500.00 to your TFSA. This brings your cumulative total to $57,500 per person and $115,000 per couple.
Contact us if you have RRSP cheques to be deposited.
If you are an Industrial Alliance account Holder there is a way to do Electronic deposits through your bank, just like paying bills. Call us for instructions as to how to access your IA deposit code and process. It's really quite easy.
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