RRSP Tip of the Week
- Refer to your notice of assessment received from the federal government for the 2005 taxation year to know how much you can contribute to your RRSP. Admissible RRSP contributions for 2006 are calculated as follows: the lesser of 18% of earned income in 2005 or $18,000, minus the pension adjustment for 2005 if you were a pension plan member, plus unused RRSP contributions from previous years.