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posted May 20, 2021 3:55:14 PM

Do I claim my employer paid RRSP contribution as RRSP T4 income even though it is already included on my T4 income

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Level 6
May 25, 2021 6:49:22 AM

Thanks for your question. Do not confuse Registered Retirement Savings Plan (RRSP) contributions made through payroll deductions with your Registered Pension Plan (RPP) deductions.

Registered Retirement Savings Plans (RRSP) and Registered Pension Plans (RPP) are both retirement savings plans that are registered with the Canada Customs and Revenue Agency. RRSPs are individual retirement plans, while RPPs are plans established by companies to provide pensions to their employees.

  • The amount in Box 20 of your T4  - RPP is only reported once, on the T4 screen in TurboTax.
  • If your employer contributes to an RRSP on your behalf, you will receive a separate RRSP Contribution slip and need to report it in the RRSP section. This amount may or may not be reported on your T4 in Box 40 and is already included in Box 14, it has no effect on the tax return itself.

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