question about RPP amount vs RRSP Receipt

[vacatia]

Hi everyone,

My company allows us to contribute to an employee profit sharing plan. I have a set amount I contribute each pay, and our employer matches us a certain amount. Mine is split into an RSP and a DPSP.

On my T4, there is box 20 which is RPP contributions. I assumed these are my contributions to the sharing plan (with Sun Life Financial). However, Sun Life also gives me an RRSP receipt (from March to Dec of last year, and Jan - March of this year). How are these amounts different? I have always input the box 20 when I input my T4 information into Ufile, and input the information on my RRSP receipt into RRSP contributions on Ufile. This is the only RRSP I have. Why is Sun Life giving me a contribution receipt, if this is already on my T4 under box 20?

Have I been duplicating information?? Or are these separate entities?

[TheTaxSmith]

Hello vacatia.

Not exactly sure of how your employer is handling the matching contributions to the RPP based on what you are stating. It appears however that your employer may have a group pension plan for the employees. Technically those RPP amounts are included in your gross income at Box 14 and I am assuming the employer is directly paying them to the RPP trustee (administrator).

Are you having an amount deducted each pay for the RPP and also contributing separately to an RRSP?

If you are also contributing separately to an RRSP (with Sun Life) that will result in RRSP slips issued by Sun Life and are a deduction as an RRSP on your return.

 

To follow up with your comments about a DPSP. You don't contribute to a DPSP.

 

 

 

[hamza]

where do i report this on ufile? the additional RSP slip

[Curmudgeon]

In Interview setup go down to go down to Common tax deductions and check off the RRSP, HBP, ... box. This will give you a RRSP form if that's what you want.