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RRSP Contrtibution Limits

1998 Contribution Limits

The simplest way to determine your contribution room is to look at the Revenue Canada “Notice of Assessment”.

You are allowed to overcontribute to your RRSP by $2,000. You will not receive a deduction for this overcontribution until you have further unused contribution room. It will however continue to compound tax free in your RRSP. Should you contribute more than this $2,000 a penalty of 1% per month will be levied on the amount over $2,000.

Year

Upper Dollar Limit

1996

$13,500

1997

$13,500

1998

$13,500

1999

$13,500

2000

$13,500

2001

$13,500

2002

$13,500

2003

$13,500

2004

$14,500

2005

$15,500

2006

indexed



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