Unused Contribution Room or Unused Deduction Room

by Tax Guy - Burlington Accountant on February 1, 2010 Print This Post Print This Post

Unused contribution room or unused deduction room is an accumulation of amounts that could have been used as an RRSP deduction in prior years but was not. Any unused deduction amounts can be accumulated and carried forward indefinitely.

About The Tax Guy...

Dean Paley CGA CFP is a Burlington accountant and financial planner who services individuals and business owners locally, nationally and internationally. Dean has appeared in the National Post, Toronto Star and Metro News.

To find out more, visit Dean's website Dean Paley CGA CFP or connect via Twitter @DeanPaleyCGACFP.

Print This Post Print This Post

{ 2 comments }

Steve Monk May 30, 2013 at 12:45 am

If I have unsed deduction room of $150,000 & a 2013 income of say, $100,000, Do I get an RRSP equal to my taxable income, to get my taxes refunded?
Can I use all $150K in my 2013 calculations?pB7U

Tax Guy - Burlington Accountant June 20, 2013 at 6:30 am

You can contribute up to the full $150,000 and pay no this year.

Comments on this entry are closed.

Previous post:

Next post: