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  Canada Immigration Forum > About Canada > Financial Planning > RRSP 101 (All RSP questions answered)
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Poll:RRSP 101 (All RSP questions answered)
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I find this info useful, thanks. 83% (20)
this is basic info, i know this already! 17% (4)

RRSP 101 (All RSP questions answered)




ashedfc
Senior Desi
Member since: Jun 10




Posts: 2153
Location: GTA


In cases of Divorce, is there a settlement or a mutual understanding.
If its a settlement, then the assets are divided equally, through a court order. If its a mutual understanding, then its open for any combination.


 
Post ID: 166705 29-06-10 21:18:49
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rajvikas
Junior Desi
Member since: Aug 10




Posts: 20
Location:


Hi All

Nice post very comprehensive information....

I did a mistake in my RRSP contribution, i exceeded the contribution limit for 2011 by CAD 8000. I was in the impression that 18% of my 2011 income will also be added to the contribution limit, which is not the case that i came to know last week & i will have to pay 1% penalty on the excess contribution.

Please advise how can i resolve this? there are 2 options that are coming in my mind

1. I contribute less in 2012 to compensate the excess contribution of 2011
2. I withdraw the excess contribution ASAP?

Please advise how can i proceed further in this case

Thanks in Advance!!!!!!


 
Post ID: 192288 31-01-12 20:25:32
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Full House
Senior Desi
Member since: Oct 12




Posts: 2267
Location:

MAKE AN AMENDED RETURN FOR 2013 AND SWING THE EXCESS INTO THE NEXT YEAR
Quote:
Originally posted by rajvikas

Hi All

Nice post very comprehensive information....

I did a mistake in my RRSP contribution, i exceeded the contribution limit for 2011 by CAD 8000. I was in the impression that 18% of my 2011 income will also be added to the contribution limit, which is not the case that i came to know last week & i will have to pay 1% penalty on the excess contribution.

Please advise how can i resolve this? there are 2 options that are coming in my mind

1. I contribute less in 2012 to compensate the excess contribution of 2011
2. I withdraw the excess contribution ASAP?

Please advise how can i proceed further in this case

Thanks in Advance!!!!!!



--------

Depending on the date on which you contributed, you might have the option to swing it into the current year, which is 2014. (Any contributions made in Feb 2014, can be swung into 2014 OR 2013.)

All of these contributions that you are talking about now are for the years past.

CURRENT YEAR IS 2014, the return for which will be filed in the NEXT year 2015.( April 30th, 2015) The contributions made can be brought into the next year by simply filing an amendment.


FH.


 
Post ID: 212268 02-05-14 15:08:13
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