1

My dad is paid hourly but sometimes he works over-time. His employer issues his T4 in Feb 2020. He has $50K in RRSP he never deducted. Let BPA mean Basic Personal Amount.

Line 1 of T1213 = Optimal RRSP deduction = 2019 Annual Income – UD (Union deductions) – min{2020 ON BPA ($10,783), Federal BPA ($12,298)}
= 2019 Annual Income – UD – 2020 ON BPA ($10,783).

But 2019 isn't over, and he can't know his exact 2019 Annual Income and UD now. So how can he fill out line 1 now?

He shouldn't wait cause processing T1213 takes at least 6 weeks. "If approved, the CRA will provide a Letter of Authority (typically within four to six weeks of submitting Form T1213) that would be provided to your employer as confirmation to reduce tax withholdings."

enter image description here

  • Does the CRA have a hotline? (I'm pretty sure the IRS does.) – RonJohn Dec 21 '19 at 8:46

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Browse other questions tagged or ask your own question.