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Level 4
March 1, 2025
Question

How much RRSP to purchase?

  • March 1, 2025
  • 1 reply
  • 8 views

Good day!

 

Does anyone knows how to answer client when asked "how much RRSP to buy"? Thank you in advance.

Cheers,

HB

This topic has been closed for replies.

1 reply

Level 2
March 2, 2025

You need to review the clients NOA or access their CRA account to see what available room they have for their RRSP deduction limit.

HB_8888Author
Level 4
March 5, 2025

Hi SJNorman,

 

When client have lots of RRSP room but wants to know how much RRSP he needs to buy to avoid paying taxes on the return? 

 

Thank you.

HB

Level 2
March 6, 2025

Hello,

 

You can play around with the numbers. But as of right now it is too late to get more RRSP's for the 2024 tax year as it is beyond the first 60 days of the year.