I hope everyone had a great family day weekend !
Here are some important dates and numbers to remember this week
RSP Contribution Deadline is March 1, 2018. That’s just 7 days away !
RSP contribution limit for this year is $26,230.00, plus any unused RSP room.
Individual tax filing deadline is April 30,2018
Self employed business tax filing deadline: June 15th, 2018
RESP’s : There is no annual limit for contributions, Lifetime contribution limit is $50,000 per beneficiary
Basic Education Savings grant : 20% on annual contributions made to all eligible RESP’s for a qualifying beneficiary, to an annual maximum of $500($1000.00 where there is unused grant room from a previous year). Lifetime max per beneficiary is $7,200.00.
TFSA limit for this year is $5,500.00 (plus any unused space since 2009 to a total of $57,500.00)
RSP Home first time home buyers payback is 1/15th per year beginning in the second year following the withdrawal, payable 60 days into the following year.
CPP maximum (at age 65) $1,114.17
OAS maximum $585.49
RIFF annual minimum withdrawal age 71 is 5.28%
For further information you can go to the CRA website. I also find it is a good idea to have a MyCRA account on line so that you can see past statements, tax owing and contribution room at a glance.
Follow the link below if you don’t have an account already.
Have a great week !