2019 planned retirement. I will get a 2019 tax yea...

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New Member

2019 planned retirement. I will get a 2019 tax year notice of assessm with entitlement to an RRSP contribution in 2020. Will not get paycheck in 2020. Does this matter?

Do I need employment income to make and claim an RRSP contribution within the limits of my latest notice of assessment? As I'm retiring in 2019, I'll wait to get my 2019 tax year notice of assessment to make a final RRSP contribution which would be made in 2020. However, when I do make this final RRSP contribution in 2020, I will not have any employment income. Just interest, dividend and capital gain revenue.

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Moderator

2019 planned retirement. I will get a 2019 tax year notice of assessm with entitlement to an RRSP contribution in 2020. Will not get paycheck in 2020. Does this matter?

You do not need to report employment income on your income tax return in order to claim an RRSP contribution.

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