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Showing results for tags 'rrsp deduction limit'.
I get this warning which prevents me from submitting my return via Netfile, "The RRSP deduction that you are claiming on your federal return exceeds the amount of deduction needed. You can limit this year's RRSP claim to avoid wasting the deduction." I am self employed and did not owe any tax. How do I solve this issue? Myy RRSP limit for 2019 is 65477. My contributions were 500.
How does the Pension Adjustment (line206) amount factor into my RRSP contribution limit? Does it reduce my contribution room? Say if I have 15000.00 rrsp deduction limit, and my pension adjustment ( line206) amount is 10000.00, does this mean I can only contribute 5000.00 more towards my RRSP ?