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watersoilair

Why is our return so low? RRSP Contributions

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Hi all - been a long time UFile user (10 years). I have run into an issue this year and I'm not sure why. 

 

So, got hitched in 2016. My spouse contributed $10,500 to RRSP and we have a combined income of $125,000. Why are they only getting $1,500 back??? I don't understand. It should be in the magnitude of $3,500!!

 

Please help - it's virtually impossible for us to see why with this software. 

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It does not matter what your combined income is. Taxes are calculated individually, It is only her income that matters when it comes to getting a tax credit against her taxable income. If she is in a low tax bracket, e.g. 15%, then the tax deduction will also be small (15%)

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