Credits and deductions

As per the Canada Revenue Agency: Box 52 - Pension adjustment - line 20600

Generally, this amount represents the value of the benefits you earned in the year under a registered pension plan or a deferred profit-sharing plan.

This amount is not an income or a deduction. You only have to enter it on line 20600 of your return. The CRA will use it to calculate your RRSP/PRPP deduction limit for next year, which the CRA will show on your latest notice of assessment, notice of reassessment, or Form T1028, Your RRSP/PRPP Information for 2019.

 

To keep track of your RRSP deduction/contribution room, you can contact CRA or access the information in your My Account services. If you are not registered in My Account, you will find this information in your NOA (Notice of Assessment).

 

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