Quantcast
RRSP Contribution Question - Beyond.ca - Car Forums
Results 1 to 9 of 9

Thread: RRSP Contribution Question

  1. #1
    Join Date
    May 2002
    Location
    Aspen
    My Ride
    F-Sport
    Posts
    10,278
    Rep Power
    35

    Default RRSP Contribution Question

    I think I just focked this one up.

    Last year, in the first 60 day period, I bought $7500 worth of RRSPs with the intention of using it for the year 2005. Because for the 2004 taxes, I already bought enough RRSP's to maximize my tax returns, any amount after that, there is no benefit. After I got my notice of assessment for 2004, I bought another $1748 to maximize my contribution limit.

    Now I just got my AIM Trimark statement and I got my RRSP receipts and it's only for the amount of $1748 'During the Remainder of 2005'.

    My question is, can I still get a receipt for my $7500 for first 60 day period and use it for 2005's taxes? Or is it wasted because I bought during the first 60 day period?

    Before I get flamed, I'm waiting for a response from both my advisor and accountant but I think they are gone for the day and this thing is bugging me

  2. #2
    Join Date
    Aug 2002
    Location
    Calgary
    My Ride
    Honda
    Posts
    1,218
    Rep Power
    0

    Default

    Unless your advisor or accountant found a way, I don't think you can get the receipt.
    I wasn't able to when I did it a few years ago.... But post up how it ends. I didn't put any effort into finding out or trying to get my taxes in order that year. I'd be surprised if you were still issued a receipt though...

    *Edit* I've got no accounting knowledge BTW....

  3. #3
    Join Date
    Feb 2003
    Location
    Calgary
    My Ride
    '11 Acura RDX Tech/'15 Ram 1500 Sport
    Posts
    757
    Rep Power
    10

    Default

    if you didn't use that $7500 for your 2004 taxes, then you should be ok to get the receipt to use it for 2005 taxes. Do you know if you got a tax receipt for that $7500 contribution for your 2004 taxes? I think if you weren't issued a receipt to use in you 2004 taxes then you can get it for you 2005 contribution.

  4. #4
    Join Date
    May 2002
    Location
    Aspen
    My Ride
    F-Sport
    Posts
    10,278
    Rep Power
    35

    Default

    I didn't use the $7500 for the 2004 taxes because there was no benefit. The only reason I bought it in the 60 day window was because I wanted to get everything in order and be one step ahead for 2005's taxes. Now I am pretty sure I got the $7500 receipt, except I don't know where it is right now and I hope I can use it.

  5. #5
    Join Date
    Feb 2003
    Location
    Calgary
    My Ride
    '11 Acura RDX Tech/'15 Ram 1500 Sport
    Posts
    757
    Rep Power
    10

    Default

    just get another copy for that contribution receipt, they should be able to re-print a copy for you and you should be ok to submit it for 2005 since it was the first 60 days of 2005

  6. #6
    Join Date
    Jun 2002
    Location
    Calgary, AB
    Posts
    1,904
    Rep Power
    15

    Default

    Yes you can still claim it. Just need to get a copy of the reciept.

  7. #7
    Join Date
    Oct 2004
    Location
    Edmonton
    My Ride
    Z
    Posts
    466
    Rep Power
    0

    Default

    Originally posted by redevil
    if you didn't use that $7500 for your 2004 taxes, then you should be ok to get the receipt to use it for 2005 taxes.
    This guy is right.

  8. #8
    Join Date
    Jun 2002
    Location
    Calgary AB Canada
    My Ride
    M5 Competition
    Posts
    2,930
    Rep Power
    13

    Default

    Yep, you can claim it.

    In fact you can claim it if it was 2, 3, even 4 years old.

  9. #9
    Join Date
    May 2002
    Location
    Aspen
    My Ride
    F-Sport
    Posts
    10,278
    Rep Power
    35

    Default

    Wow what a relief, thanks guys.

Similar Threads

  1. Group RRSP question

    By gggunit in forum Real Estate / Finance
    Replies: 19
    Latest Threads: 03-21-2018, 11:33 AM
  2. Lets talk about RRSP's

    By sxtasy in forum Society / Law / Current Events / Politics
    Replies: 22
    Latest Threads: 02-22-2005, 12:45 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •