Quote:
Originally Posted by mac_gurl
Ok, we are having issues with our RRSP's. The fiance puts $50/mo into an RRSP. It comes out the first of every month.
Doing the math, one assumes he should have $600 in RRSP to claim (50 x 12 months).
We got the RRSP t4E's from the bank, and have one for $450 and one for $100. They can't seem to explain where the other $50 is.
Does anyone know what could be the problem?
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This is actually due to Leap year. Your Jan.1, Feb, 1, and Mar.1 2007 RSP contributions have been claimed on your taxes last year. So for the remaining $450 you got. Which is fine. But due to Feb.29th being the deadline, instead of Mar.1 this year, you only have two contributions in the first 60 days of 2008 as opposed to the traditional three. So she only made 11 monthly contributions.
Next tax year, she'll have 10 contributions for the remainder of 2008 plus three for 2009 (since next year's deadline will be Mar.1 2009), so she'll be able to claim $650.
Make sense?