January 2020 – The last day to top up or make your RSP contribution for 2019 is March 2nd 2020 • 2019 maximum RSP contribution limit is $26,500. Your 2018 Notice of Assessment (from last year’s tax return) will give you the exact amount of your 2019 RSP room. • If you’ve been contributing throughout the year consider topping this up before the March 2nd deadline. If you’ve had a pay increase, don’t forget to increase your regular contributions too. • If you don’t have funds readily available, or want to catch up on a large carry forward of RSP room to meet your retirement expectations, a low interest rate RSP loan, or Home Equity Line of Credit might be a solution. • You can transfer assets from your Cash or TFSA account to your RSP, but take care as this may have tax consequences. • The 2020 the maximum RSP contribution room is $27,230. • Rather than wait for a tax refund, file a T1213 with CRA so your employer doesn’t have to deduct tax at source on the amount you contribute to your RRSP. Why give the government an interest free loan of your hard earned money?