March 2, 2015, is the deadline for contributing to your RRSP for deduction on your 2014 tax return. Whether you should rush to get this done depends on many factors. Your marginal tax rate, your 2014 deduction room, future income and tax rates in retirement are just a few considerations.
Time is running out to speak with a Craig & Taylor Associates’ advisor to give you the best professional advice. You will need your 2013 Notice of Assessment that illustrates your 2014 deduction limit and income details.
RRSP loans are available if it makes sense to utilize them but you will need time to apply and be accepted. Contact us today and we will ensure you are on track to meet your retirement planning goals.
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