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How many years can I carry my RSP contributions forward?

 
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How many years can I carry my RSP contributions forward?

You may show RRSP contributions as unclaimed for as long as you wish.  This can be handy if you know your income is going to increase in a future tax year, as the deduction will save more at a greater tax bracket.

You do still need to report the contributions for the tax year they were made.

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4 Replies

How many years can I carry my RSP contributions forward?

You may show RRSP contributions as unclaimed for as long as you wish.  This can be handy if you know your income is going to increase in a future tax year, as the deduction will save more at a greater tax bracket.

You do still need to report the contributions for the tax year they were made.

How many years can I carry my RSP contributions forward?

Not past Age 71 to your own RRSPs.
 Not past Age 71 of your spouse in the case of spousal RRSP contributions.
CRA Guide T4040 refers.

How many years can I carry my RSP contributions forward?

I seriously doubt that is the case here Tony.  By that age, most people are moving their money out of RRSPs and into RRIFS and/or annuities.

How many years can I carry my RSP contributions forward?

As to the practicality of carrying the contributions forward, the longer a taxpayer waits to claim the deduction the less benefit any additional tax savings would be.