Hi guys,
Hope someone can help or answer my question here esp if there's any Accountant here in RFD? :)
On my Notice of Accessment 2012 for tax year 2011
The 'You RRSP deduction limit for 2012............$15000 (A)"
then at the bottom, there's another line
"You have $1400 (B) of unused RRSP contributions available for 2012. If this amount is more than amount (A) above, you may have to pay a tax on the excess contributions"
I'm kind of confuse. What I want to know is what is the max amount of my RRSP contribution? is it $15000? or $15000 - $1400 = $14600?
Note that I know I have over the limit of contribute on my RRSP in past 2 years but not much.
Thank you.
Hope someone can help or answer my question here esp if there's any Accountant here in RFD? :)
On my Notice of Accessment 2012 for tax year 2011
The 'You RRSP deduction limit for 2012............$15000 (A)"
then at the bottom, there's another line
"You have $1400 (B) of unused RRSP contributions available for 2012. If this amount is more than amount (A) above, you may have to pay a tax on the excess contributions"
I'm kind of confuse. What I want to know is what is the max amount of my RRSP contribution? is it $15000? or $15000 - $1400 = $14600?
Note that I know I have over the limit of contribute on my RRSP in past 2 years but not much.
Thank you.