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New Member
posted Feb 27, 2025 6:40:56 PM

would buying RRSP lower my tax owing?

I owe over $5000,, would buying RRSP's lower the amount owing

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1 Replies
Moderator
Feb 28, 2025 12:23:23 PM

Yes, if you bought RRSPs, you would get a deduction that can help lower your taxes owning. March 3, 2025 is the deadline for contributing to an RRSP for the 2024 tax year.