- Contributions to a RRSP are deductible for tax purposes.
- Income earned is not taxable so long as it stays in the RRSP.
- Withdrawals from a RRSP are taxable in the year of the withdrawal.
- Annual RRSP contribution limits are calculated based on your income.
- Any unused RRSP contribution room can be carried forward to future years.
- To view the updated RRSP Declaration of Trust, please click here.
