Does this get reset if I don't use my RRSP deduction? I'm working in the US and I will probably have a 0 deduction increase in the next few years (0 income in Canada). So if I don't use up to my deduction limit this year, will I lose it after I return to Canada (likely a few years from now)?
Or will my filing in the US somehow "magically" work things out? Or perhaps my filing in the US will automatically reduce my RRSP deduction limit to 0?
Any insight would be greatly appreciated. Thanks.
Basic Question about RRSP decution limit
Moderator: Mark T Serbinski CA CPA
Your filing in US has nothing to do with Your RRSP limit.
Your limit reamins what it was on your last assessment from CRA. Unless the Cdn Govt eliminates the carryforward (I have not heard any mention of this happening soon), it remains available to you now, and forever, regardless of what you do in US or anywhere else.
<i>nelsona non grata... and non pro</i>
Your limit reamins what it was on your last assessment from CRA. Unless the Cdn Govt eliminates the carryforward (I have not heard any mention of this happening soon), it remains available to you now, and forever, regardless of what you do in US or anywhere else.
<i>nelsona non grata... and non pro</i>