lambda95
Returning Member

Troubleshooting

“You can deduct the money you put into your RRSP from your taxable income, which may reduce the amount of tax you have to pay when you file your return. You also get an immediate tax break when you have your contributions taken straight off your pay.” This is from the manulife website.

 

For the record I think I’ve figured it out, even with immediate tax breaks I still paid more tax than needed, so there is an additional refund now when filing taxes.