Our Blog

TN CPA Professional Blog

The TN CPA Team is your source for the latest Canadian tax news and updates on changing tax laws.

We are pleased to provide a variety of resources on accounting, bookkeeping taxation, and other related subjects that we hope will be helpful to both individuals and businesses.

If you have any questions, simply contact us by email or call 416-318-6789. We will be happy to meet with you for a free, no-obligation consultation.


What happens if I over-contribute to my Registered Retirement Savings Plan (RRSP)?

rrsp

Contributions to an RRSP from January 1, 2017, to the first 60 days of 2017 can be deducted from your 2016 income. You must declare your total contributions. The maximum that is tax deductible is your contribution limit per your notice of assessment. Any unused RRSP contribution in excess of $2,000 is subject to penalties by the Canada Revenue Agency (CRA) of 1% per month. 

×
Stay Informed

When you subscribe to the blog, we will send you an e-mail when there are new updates on the site so you wouldn't miss them.

Canada's Covid 19 Economic Response Plan
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Friday, 09 December 2022

Contact Us

Our Office

TN CPA Professional
28 Village Centre Pl, Unit 208
Mississauga, ON
L4Z 1V9

 416-318-6789

 info@tncpa.ca

We're Easy to Find