As seen in our TurboTax article RRSPs and Your Tax Return: The Bottom Line
Each Canadian taxpayer has an annual RRSP contribution room based on their income so it has a maximum ceiling. The contribution room increases every year by earning new income. Since the CRA does not have your information yet; to find out how the Canada Revenue Agency determines your deduction limit (contribution room) and how you can calculate it, please follow these next CRA links.
How is your RRSP deduction limit determined?
Guide T4040, RRSPs, and Other Registered Plans for Retirement.
Once you file your tax return for the first time and register for the Canada Revenue Agency (CRA) My Account, this will make it easier to find your RRSP deduction limit, as seen in this next CRA link.
Where can you find your RRSP deduction limit?
For more information, you can also see this TurboTax article: Remaining RRSP Contribution Room
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