A Registered Retirement Savings Plan (RRSP) is a type of financial account that holds savings and investment assets. RRSP funds are crucial for retirement, so it is important to contribute to this fund each year. By contributing to your RRSP you are reducing your annual gross salary your income tax is calculated on, which may reduce the amount of tax you pay at tax time. But how much is too much? In this blog, we will discuss how to calculate your maximum annual contribution limit.
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