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New Member
posted Oct 31, 2019 3:27:01 AM

Will an RRSP contribution help lower my business income level if I only have business income to declare?

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1 Replies
Level 15
Oct 31, 2019 3:27:02 AM

No, an RRSP Contribution will only lower your "Net" and "Taxable" income. If you are required to pay CPP contributions because your "Net Business Income" before Line 150 is over $3,500, contributing to an RRSP will have no effect on this.