RRSP Over Contribution Limit and Carry Forward Rules

Your current year’s RRSP contribution limit is 18% of your previous year’s earned income, to a maximum of $26,500 (2019) plus any unused contribution room carried forward from previous years. There’s some confusion around the RRSP over contribution limit and RRSP carry forward rules. This post explains both of these rules. RRSP Over Contribution Limit…

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Let’s bust a myth about working overtime. Some employees wrongly believe that when earnings from overtime, a bonus, or salary increase pushes them into another tax bracket they’ll actually take home less on their paycheque than before. Some employees even refuse to work overtime because they believe they’ll pay more taxes and earn less money…

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