In February I had a profit sharing payout from my work. I elected to have it deposited directly to my RRSP. No income tax was deducted. How do I claim this?
In February I had a profit sharing payout from my work. I elected to have it deposited directly to my RRSP. No income tax was deducted. How do I claim this?
If it was a "Direct Transfer", you should not have to report it on your tax return.
However, sometimes a tax slip is issued (T4, T4A, T4PS, etc) for these transactions. In that case, you will need to report what is shown on the slip and enter a corresponding RRSP Contribution slip.
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