The deadline for RSP contributions for the 2009 income tax year is Monday, March 1, 2010. The 2009 RRSP annual contribution maximum is 18% of earned income, up to a maximum of $21,000. Your 2008 Notice of Assessment will reflect how much you are eligible to contribute.

While topping up your RRSP is always a good idea, it’s even more important to make regular contributions. So, why not contribute early for 2010 (maximum $22,000) or start a monthly payment plan?

Remember, if you haven’t contributed your maximum each year you are permitted to carry forward unused room. The simplest way to find out your RSP room is to check your Notice of Assessment. An RSP loan may be an effective way to increase your contributions or take advantage of existing contribution room. Let us show you how.

With the start of another year, remember that you are eligible to make another deposit of up to $5000 to your TFSA. Don’t have one? Talk to your Polson Bourbonniere investment advisor!