刚收到NOTICE OF ASSESSMENT

[cubanna]

最后一行：
Your RRSP deduction limit for 2006 ...... $6,083
意思是不是我可以在07年3月2日以前在我银行的RSP帐户里最多可以存$6083？
问题比较幼稚，见笑了。
谢谢前辈。

 

[spsun]

是

 

[uglyducking]

最初由 cubanna 发布
最后一行：
Your RRSP deduction limit for 2006 ...... $6,083
意思是不是我可以在07年3月2日以前在我银行的RSP帐户里最多可以存$6083？
问题比较幼稚，见笑了。
谢谢前辈。

最多可以多存$6083

 

[cbc369]

最初由 CS2004 发布
你可以存更多的钱在你的RRSP帐户，但是只有$6,083免税。

This means you can deduct $6083 from your 2006 total income when you file your income return in 2007. You can contribute more into your RRSP account. I believe that is $2000. Therefore, before next March, you can put up to $8083 into your RRSP account. However, your maximum deduction for your 2006 income is $6083.

Hope this helps.

 

[cubanna]

Thank you all for your answers.

 

[Teddy]

Actually, about this extra contribution "$2000", many people don't know the exact definition:

for example, right now you got 2006's limit is $6000 (A), then you may predict 2007's limit around $6000-$7000 (B) (after you file 2006's return, you may get the actual 2007's limit $6500 (C)).

So, in 2006, you may contribute up to A+C+$2000, which won't be charged penalty as you file 2007's return. Of course, at this moment, nobody could know the exact amount C, so you may contribute A+B+$2000 as long as B will not be greater than C in the future; otherwise, you will get penalty. In another word, if you want to contribute as much as possible, predict a conservative B then make a A+B+$2000.

As I know, even some accountants don't know this rule clearly. Believe me or not, check the tax guide in case! Hope this can bring you some new ideas!

Teddy,

最初由 cbc369 发布


This means you can deduct $6083 from your 2006 total income when you file your income return in 2007. You can contribute more into your RRSP account. I believe that is $2000. Therefore, before next March, you can put up to $8083 into your RRSP account. However, your maximum deduction for your 2006 income is $6083.

Hope this helps.

 

[孤城夜雨]

regarding $2000, this is RRSP contribution exceeded amount limit that will not incur penalty,
for example, if on the NOA (Notice of Assessment) CRA indicates you have deduction limit for 2006 is $6,083, your max. non-penalty contribution is 6083+2000=8083, and your RRSP deduction from taxable income stays at 6083.
this part have been explained by Teddy.

regarding your RRSP limit $6083, here is how this figure comes from
it is the lesser of
(1)annual RRSP contribution amount published by CRA, for taxation year of 2005, is $16500, for taxation year of 2006 is $18000.
(2) 18% of your last year taxable income, for example $6083 is based on the figure whichever is less (1)RRSP limit $18000 (2)18% of your taxation year 2005 taxable income.

please note, if your employer has made Registered Pension Plan payment on your behalf, any this amount will be taken off from your $6083 limit. that is if your employer made payment of $1000, you may purchase RRSP for a max amount of 6083-1000=5083, which can be deducted from taxable income. of course, you might wish to contribute another $2000 without penalty, and non-deductible

if anything is inncorrect, please point out

 

[topone]

my understanding is that you don't need to deduct the $1000 pension from your 2006 rsp contribution room. This $1000 pension adjustment will be deducted from NOA of 2006 tax year, i.e. your 2007 rsp contribution room will be $1000 less. But if you have any Group RRSP contribution in 2006, you should subtract this amount from $6083.

 

[cbc369]

最初由 孤城夜雨 发布
regarding $2000, this is RRSP contribution exceeded amount limit that will not incur penalty,
for example, if on the NOA (Notice of Assessment) CRA indicates you have deduction limit for 2006 is $6,083, your max. non-penalty contribution is 6083+2000=8083, and your RRSP deduction from taxable income stays at 6083.
this part have been explained by Teddy.

regarding your RRSP limit $6083, here is how this figure comes from
it is the lesser of
(1)annual RRSP contribution amount published by CRA, for taxation year of 2005, is $16500, for taxation year of 2006 is $18000.
(2) 18% of your last year taxable income, for example $6083 is based on the figure whichever is less (1)RRSP limit $18000 (2)18% of your taxation year 2005 taxable income.

please note, if your employer has made Registered Pension Plan payment on your behalf, any this amount will be taken off from your $6083 limit. that is if your employer made payment of $1000, you may purchase RRSP for a max amount of 6083-1000=5083, which can be deducted from taxable income. of course, you might wish to contribute another $2000 without penalty, and non-deductible

if anything is inncorrect, please point out

18% of your last year's earned income, not taxable income.