calculating RRSP contribution limit

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
cappy2010
Posts: 3
Joined: Wed Feb 17, 2010 2:50 pm

calculating RRSP contribution limit

Post by cappy2010 »

US green card holder, Canadian tax resident for 2009 and 2010, US prior to that, filing in both US and Canada going forward indefinitely.

Is the 2009 RRSP contribution limit based only on income reported on a Canadian tax return for 2008 (or unused carryforwards from prior years based also on Canadian tax return income)? In other words, there is no way to beef up your RRSP cont. limit using US income, right?

Thanks
Top
nelsona
Posts: 18364
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Any EARNED income will count, even from US. Only earned income reported on a Cdn return can boost your RRSP contribution levels. That is basically wages, self-employment income and rent.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
Top
Post Reply

Return to “Canada / United States Tax & Accounting”