The 2021 Investment Season is here! RRSP limits for 2020 and 2021 are $27,230 and $27,830 respectively; the deadline for RRSP contributions for the 2020 tax year is March 1, 2021. The TFSA limit for 2021 is $6,000; you can deposit up to $75,500 ($151,000 per couple) if you have never contributed to a TFSA. Other great ways to invest include pre-authorized monthly contributions (PACs), RESPs, RDSPs and of course, open/taxable accounts. Gold Investment Management is available by telephone: 1.888.436.9955, fax: 1.866.541.7947, email: investir@gold-im.com or visit us at gold-im.com.
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RRSP & TFSA Tables:
|
Year |
RRSP Annual Limit* |
|
2020 |
$27,230 |
|
2021 |
$27,830 |
*18% of “earned income” for the preceding year to annual limit
|
Year |
TFSA Annual |
Cumulative |
|
2009-2012 |
$5,000 |
$20,000 |
|
2013-2014 |
$5,500 |
$31,000 |
|
2015 |
$10,000 |
$41,000 |
|
2016-2018 |
$5,500 |
$57,500 |
|
2019-2021 |
$6,000 |
$75,500 |