This is a tough question to just fire out an answer. But, in short that answer is most likely yes, you should max your RRSP's, althought the borrowing may or may not be a line of credit. Part of why I say this is because it depends on the interest rate of the LOC. Another reason to consider an RRSP loan is because you might want to defer payment of this loan until your tax return comes back. (This is assuming that you want to put the return against the loan).
It also depends on which tax bracket you're in. Maxing your RRSP whan you make $20k/year is not as much of a tax break as when you earn $70k/year. While it is true that you will earn compound interest so you are better to invest early, you still earn compound interest in other investments that are not RRSP's.
Lastly, I better make a quick point on the tax-sheltered aspect of the RRSP; you don't pay tax on the growth. This is a big advantage if you are receiving interest income in particular. However if you are willing to pay some tax, but still want to invest early you could consider a Corporate Class Fund. This is a fund that will pay you Capital Gains no matter how the income was derived. Also, you will pay this when you take the money out, not on an annual basis.
Anyway, I know that this is both rambling and probably generates more questions than it answers, but those are my thoughts.
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