It seems that there is some confusion around the 2012 RRSP deadline and a lot of websites are proclaiming the wrong RRSP deadline for 2012.
Contributions made in the current tax year or within the first 60 days of the following year can be deducted on your tax return [s.146(5)].
The deadline for contributing to an RRSP and claiming the contribution on your 2011 income tax return is February 29th, 2012 (not March 1st because 2012 is a leap year).
If you want to most up-to-date dates check out the CRA site.
Make sure you don’t miss the deadline!
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{ 3 comments… read them below or add one }
If I want to contribute to my RRSP only so that my company will match the amount, should I contribute and then withdraw it in the same year or wait til the year after contributing? I’m in such a low tax bracket that it makes more sense to pay the taxes now.
I would not recomend it.
If you take it out you have lost forever the RRSP contribution room that you previously had. If you don’t want to claim the deduction, you can carry the deduction forward to a future year and claim it when it is more advantageous to you. Don’t take the money out.