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bettyburton13
Returning Member

Is the amount in Box 67 used to calculate the following year allowance?

RRSP allowance for next year does not seem to use the amount in Box 67 along with the amount in Box 14 for that calculation.  Is that correct?

3 Replies

Is the amount in Box 67 used to calculate the following year allowance?

Yes. RRSP Dedeuction limit is based on 18% of Employment Income.

bettyburton13
Returning Member

Is the amount in Box 67 used to calculate the following year allowance?

Thanks for your response.
Is the severance amount in Box 67 considered employment income as turbo tax is calculating my 2018 RRSP allowance is 18% but based only on the income in Box 14.
Is that correct?

Is the amount in Box 67 used to calculate the following year allowance?

It is only based on box 14 amounts from a T4, or equivalent eligible amounts.
Severance wouldn't qualify.