RRSP Deadline Is Coming! File Your Taxes Before March 1st To Maximize Your Funds

The last week of February is an important week for Tax Payers because the tax filing spike in Canada is due to the March 1st deadline for RRSP (equivalent to US 401) contributions. During this last week of February, QuickTax sales will typically rise tremendously, due to many taxpayers try to file their taxes before the deadline. I would recommend that you get yourself ready for this special week in advance.

When you’ve worked hard all your life, you deserve a little luxury during retirement. There are intelligent decisions, you can do while you are still working if ensure that relaxation days await you.

The RRSP QuickTax Wizard can help you determine how much to contribute to your RRSP with such ease, it is as if by magic. The tool helps you maximize your RRSP funds and is available for all Canadian taxpayers.

Other factors to consider when making them contributions to an RRSP and complete your tax return:

  • If you think that your income will be more than your spouse when the time comes to retirement, it will be good to consider contributing towards a spousal RRSP. A spousal RRSP now provides income tax savings for you while allows your spouse of his/her pension request later.
  • If neither you nor your partner earned as much as you could hope for 2009, but expect to earn more in 2010, QuickTax will advise postponing all or part of your contributions to a deduction for a future when your taxes will be a most important year and most valuable of deduction.

Remember, you have less than ten days now to contribute towards your RRSP before the date limit on March 1. Don’t wait because it’s a perfect answer to your question about how you Maximize Your Funds!

RRSP Deadline is coming! don’t wait and file your taxes now

2 thoughts on “RRSP Deadline Is Coming! File Your Taxes Before March 1st To Maximize Your Funds

    1. RRSP Deadline is Feb 28th, File Your Taxes before Deadline! It’s time to think about RRSP, for your retirement Contribution deadline, because RRSP offers a best option for the tax deferral that means earn money now and pay tax on it later. Anyway, always check those important dates with your tax consultants to get full advantage of those beside check your 2009 Notice of Assessment for your contribution limit, you may also get efficient results while using a TurboTax Canada Software for your all kinds of Tax requirements. Moreover, It’s a legitimate way to lower your current year taxes with the deduction from your RRSP contribution. Also, in the economic uncertainty environment of today’s, where even when our job is not so secure, RRSPs provide you with some financial security…
    2. March 1, 2011 Income Tax Reporting
    3. February 28, 2011 – Due date for T4 and T5 reporting
    4. March 31, 2011 – Due date for T3 (Trust) information reporting
    5. April 30, 2011 – Filing deadline for individual income tax returns
    6. April 30, 2011 – Balance of personal income taxes due
    7. June 15, 2011 – Filing date for income tax returns for self-employed individuals and spouses
  • Looking forward to contributing to the RRSP? March 1, 2021 is the deadline for contributing to an RRSP for the tax year 2020 if you’re below 71 years old as people above 71 years can’t contribute to their own RRSP.

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