Line 208 - RRSP deduction

A registered retirement savings plan (RRSP) is a retirement savings plan that you establish, that we register, and to which you or your spouse or common-law partner contribute. Deductible RRSP contributions can be used to reduce your tax. Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you receive payments from the plan.

For more information, see How much can I contribute and deduct?

Receipts - Attach official receipts for all amounts you contributed from March 2, 2011 to February 29, 2012, to your paper tax return, including those you are not deducting on your tax return for 2011 and those you are designating as Home Buyers' Plan or Lifelong Learning Plan repayments.

For more information, see Registered Retirement Savings Plan (RRSP).

Important dates

February 29, 2012, is the deadline for contributing to your RRSP amounts you want to deduct on your 2011 tax return.

For more information, see Questions and answers about Line 208 - RRSP deduction.

Completing your Schedule 7, RRSP Unused Contributions, Transfers, and HBP or LLP Activities

Follow the guidelines at the top of Schedule 7 to find out if you have to complete it.

Completing your tax return

On line 208, enter your RRSP deduction claim. Attach Schedule 7 if you are required to complete it.

Forms and publications

• General Income Tax and Benefit Guide
• Guide T4040, RRSPs and Other Registered Plans for Retirement

Related topics

• Registered Retirement Savings Plan (RRSP)

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