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 |