Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 5, 2024 8:46:31 AM

Can I deduct RRSP contributions made to a matching pension plan provided by an employer? I have never received a contribution receipt nor is anything sent to the CRA.

I'm with a new company that also has a matching RRSP plan but it's not pension. I received a contribution receipt and now am confused if I could have been deducting RRSP contributions I made with a previous company?

0 5 5901
5 Replies
Intuit Alumni
Mar 5, 2024 9:46:14 AM

You can only get an RRSP deduction from the amount you yourself have contributed as per the RRSP information slip you have received. 

 

Thank you for choosing TurboTax.

New Member
Apr 28, 2024 8:12:53 PM

I work for the City of Toronto and have a pension plan with Omers where both the City and I as an employee make contributions. During the turbo tax RRSP contribution section, should I be deducting my contribution for the pension plan as RRSP contribution or does Turbo-tax pick this deduction directly from my T4? 

Intuit Alumni
Apr 29, 2024 11:23:14 AM

If the amount of your part of the contribution is already on the T4, it should be entered as a contribution on your return by the software. You will need to enter it as a deduction if you wish or need to use it this year. Otherwise you can choose to use it another year when it might be more beneficial for you.

 

Thank you for choosing TurboTax.

New Member
Apr 29, 2024 4:17:44 PM

Thanks for your response. However, I am still unclear. Let me put this in layman's (my) terms. For my total taxable income to be reduced by my contribution in the Omer's plan, do I have to manually enter what I contributed through the year or does turbo-tax pick this from my T4 automatically?  I see that my yeary contribution is captured in my T4.

Moderator
Apr 30, 2024 8:46:49 AM

Whatever you entered on your T4 TurboTax will enter it accordingly. There are no other entries to make regarding your pension plan as it is on your T4 Slip.

 

Thank you for choosing TurboTax.