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Important Dates and Numbers - 2021

TFSA Limits                                                    

  •  Total Contribution room $75,500* assuming you’ve been eligible for a TFSA since TFSA inception 2009
  • Year limit $6000

RRSP limits                                                      

  • The Lesser of 18% of your gross income or $27,830
  • Last day to contribute for the 2020 tax year: March 1st

RESP limits

  • The annual RESP amount to maximize government grants is $2500 per child. If you’ve missed a previous year you can double up to $5,000 in the current year.
  • The Lifetime maximum per child is $50,000
  • Last Day to contribute to RESPs for this calendar year: December 31st, 2021 

RDSP limits

There is a cap of $3500 of grant money per year. The lifetime limit for contributions to an RDSP remains at $200,000

To maximize the grant use the chart below:

Income less than or equal to $95,259
$1500 on first $500 contributed. Grant equivalent of 300% ($3 for every $1 eligible)

$2000 on next $1000 contributed Grant equivalent of 200% ($2 for every $1 eligible)
Income great than $95,259 OR if no income information available from CRA
$1000 on the first $1000, grant equivalent of ($1 for every $1 eligible)

Tax mailings dates

RRSP contribution receipts: March to December mailing January 31st
January to March 1st mailing by 2 weeks after
T5s: February 28th
Investment Income Summary: February 28th
T5008 (Gain/Loss reports): February 28th
T4RIF February 28th
T3s: March 31st