I am Canadian and I have a large amount of RRSP contribution room. I do have money to contribute, but I will have no taxable income this year.

Should I make my RRSP contributions now, or save the money and contribute it next year when I will have taxable income (and be able to get a break/refund).


1 Answer 1


You can defer RRSP deductions to future years. So, if you purchase $20,000 in RRSPs this year but had no income, you could use this to offset your income next year when you are making, say, $100,000. For more details, see Deferring claim of significant purchase of RRSPs

Note that I strongly advise you ensure you have sufficient emergency funds prior to purchasing RRSPs.

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .